A former chairperson of VBS Mutual Bank board, Tshifhiwa Matodzi, has been sentenced to 15 years in prison after pleading guilty to a range of charges that contributed to the downfall of the bank. The charges included corruption, theft, fraud, money laundering, and racketeering activities. Although the total combined sentence amounted to 495 years, the court ordered the sentences to run concurrently, resulting in an effective 15-year imprisonment for Matodzi.
The Hawks, a serious corruption investigation unit, applauded the conclusion of the trial and stated that Matodzi had signed a plea deal with the state as a result of the diligent investigation conducted by their team. This outcome highlights the commitment of the justice system to holding individuals accountable for actions that harm the financial sector and erode public trust.
The Directorate for Priority Crime Investigation reiterated its dedication to pursuing justice and ensuring that offenders do not escape punishment for their crimes.
Source: TimesLIVE