Great Bank Heist: VBS, Philip Truter, state capture - BizNews founder Alec Hogg


Manage episode 273978081 series 2605825
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Last week saw high profile arrests of Free State tenderpreneurs closely linked to the ANC secretary general Ace Magashule. Yesterday the news broke that one Philip Truter, former CFO of heavily pillaged VBS Bank, has cut a deal that sends him to jail for an effective seven years. With a number of very high profile politicians about to get their come-uppance over fraud which cost SA taxpayers almost R2bn in repayments to depositors, it’s time for a refresher on the VBS scandal. In this flashback to 2018, hear BizNews founder Alec Hogg picking up the story of what has been dubbed The Great Bank Heist.

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