An amount of R2 billion went missing from VBS Mutual Bank which left the banks customers destitute.
Philip Truter who is the eight suspect in the VBS Mutual Bank investigation has finally been arrested by the Hawks.
Truer who is a senior executive is facing 47 charges of corruption, money laundering, fraud and racketeering. He is expected to appear in Palm Ridge Specialized Commercial Crimes Court on Monday.
According to a report by Daily Maverick, Philip Truter received millions of rands in 2017 which was paid to Shangri-La Investment, a company he was the sole director of.
An amount of R2 billion went missing from VBS Mutual Bank which left the banks customers destitute.
The Eyewitness news earlier published an article titled 'Eighth VBS Bank heist suspect arrested' but strangely avoided using his picture. Instead the artcle showed faces of seven suspects who were arrested previously and are all black.
This is #PhilipTruter who is a white suspect in the #VBSheist and newspapers have tried to hide his face & showed us black faces only. Let’s make him trend & disappoint white media pic.twitter.com/KOImxOOrP4
— White Man Confession (@ConfessionWhite) July 6, 2020
People took to social platforms to raise their unhappiness about the use of black suspects' faces on report about Mr Philip Truter. A new hashtag #PhilipTruter was created on Twitter and has since been retweeted by thousands of user to express their unhappiness.
Mr Truter was not arrested together with 7 other suspects and it was reported that he was in quarantine. All seven suspected have already appeared in Palm Ridge Specialised Commercial Crimes Court.
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