Former VBS CFO Philip Truter granted parole
In October 2020, Truter pleaded guilty to racketeering, money laundering, tax evasion, fraud and corruption and received an effective seven years behind bars in return.
FILE: VBS Mutual Bank in Thohoyandou. Picture: Sethembiso Zulu/EWN
JOHANNESBURG -Three years after pleading guilty to a raft of crimes linked to the VBS scandal, the bank's former CFO, Philip Truter, has been granted parole.
In October 2020, Truter pleaded guilty to racketeering, money laundering, tax evasion, fraud and corruption and received an effective seven years behind bars in return.
Correctional Service spokesperson Singabakho Nxumalo has now confirmed that he has since been released on parole.
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"Having served the minimum required time, he was then taken for a parole consideration process wherein he was placed out on 12 April 2024 by the Correctional Supervision and Parole Board. This therefore means that Mr Truter is a parolee and is serving the remainder of the sentence under Community Corrections, which will expire on 6 October 2025," said Nxumalo
The news comes after former VBS chair Tshifhiwa Matodzi last week followed Truter's lead, pleading guilty to 33 counts and getting slapped with a 15-year sentence in exchange therefor.