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Alleged VBS heist kingpin Tshifhiwa Matodzi vows to prove his innocence

Matodzi is accused number one out of seven suspects appearing in the Palm Ridge Regional Court on Thursday in connection with the VBS scandal.

Former VBS Mutual Bank chair Tshifhiwa Matodzi appears in the Palm Ridge Regional Court on 18 June 2020 on various charges related to the theft of billions of rands from the bank. Picture:  Kayleen Morgan/EWN

JOHANNESBURG - Alleged kingpin and former chair of VBS Mutual Bank Tshifhiwa Matodzi said that he intended to prove that he was not guilty.

Matodzi is accused number one out of seven suspects appearing in the Palm Ridge Regional Court on Thursday in connection with the VBS scandal.

From bank heist to arrests: A timeline of the VBS scandal

They were arrested for their role in the multi-billion rand bank heist and face charges of money laundering, fraud, theft and racketeering.

Matodzi has applied for bail, saying he is unemployed and owns no assets.

Earlier, at least one of the accused wanted the court to reduce the R100,000 bail.

The State had indicated it that would not be opposing bail.

An eighth suspect is currently under COVID-19 quarantine.

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