Latest News Editor's Choice

News / National

Justice Luke Malaba's nephew out on R100 000 bail over R2 billion bank heist

by Mandla Ndlovu
25 Jun 2020 at 18:45hrs | Views
Justice Luke Malaba's nephew Sipho Malaba has been granted R100 000 bail by the Johannesburg Specialised Commercial Crimes Court, sitting in the Palm Ridge Regional Court.

Malaba was the KPMG engagement partner at VBS.

South African media reported on Thursday that VBS chairperson Tshifhiwa Matodzi, CEO Andile Ramavhunga, former treasurer Phophi Mukhodobwane and former non-executive VBS board members Ernest Nesane and Paul Magula, Sipho Malaba and Phalaphala Avhashoni Ramikosi, the former chief financial officer of the South African Police Service, face 47 charges of fraud, theft, money laundering, corruption, and racketeering.

News24 also reported that an eighth accused, former VBS chief financial officer Philip Truter, is yet to appear in court. He is in quarantine due to Covid-19 and will need to lodge his own bail application.

Source - Byo24News/News24