VBS fraud case transferred to High Court
The 14 accused in the VBS Mutual Bank corruption case are set to appear in the Pretoria high court in August in preparation for their trial.
They are facing 188 charges related to money laundering, fraud, and racketeering.
Some of the accused include the bank's former board chairperson, Tshifiwa Matodzi, former CEO, Andile Ramavhunga and former non-executive board members, Ernest Nesane and Paul Magula.
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They are accused of looting more than R1.5 billion from the bank.
“The hearing is on the 2nd of August for the pre-trial conference. This in order for the various teams to make sure that all the issues are sorted before the actual trial,” said NPA spokesperson, Sipho Ngwenya
He said the date for the trial will be set in August.
