SA’s prosecutions authority says it has strengthened its case against the former bank executives accused of looting the now defunct VBS Mutual Bank in Limpopo of about R2bn, mostly belonging to the poor.

The National Prosecuting Authority (NPA) clinched an important victory after reaching a plea agreement with the bank’s former CFO, Philip Truter, on Wednesday, in the first criminal conviction since the bank was placed in liquidation almost two years ago.

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