EDITORIAL | Don’t bank on NPA bringing state capturers to book soon
The VBS Mutual Bank arrests are welcome, but a number of ‘imminent’ charges are yet to be laid
Wednesday was an important day for the National Prosecuting Authority (NPA). The top brass is keen for South Africans to know it is not sitting on its hands and is, instead, working to bring criminals to book.
The announcement that several executives from VBS Mutual Bank had been arrested and would appear in court, alongside some of those who allegedly helped them, was met by many with delight that finally action was going to be taken against those accused of looting the bank.
Thursday’s appearance in the Palm Ridge magistrate’s court in Johannesburg is the most high-profile case yet brought to court by national director of public prosecutions (NDPP) Shamila Batohi, who assumed office in February last year. According to Amabhungane (https://amabhungane.org/), those charged with crimes including fraud and racketeering include former VBS chairperson Tshifhiwa Matodzi, CEO Andile Ramavhunga, treasurer Phophi Mukhodobwane and CFO Philip Truter. With them in the dock will be non-executive board member Phalaphala Avhashoni Ramikosi, the police service’s former CFO, who sat on the VBS board’s audit committee, and Sipho Malaba, from KPMG, who allegedly signed off the bank’s false financial statements...