Reitumetse Makwea, a seasoned current affairs journalist in Pretoria, has extensively covered court and crime-related news at The Citizen and Rekord Noweto for over five years.
In a landmark case, Tshifiwa Matodzi (47), the former chairperson of the now-defunct VBS Mutual Bank Board, has been sentenced to a staggering 495 years in prison.
Matodzi faced 33 charges, including corruption, theft, fraud, money laundering, and racketeering, all violating the Prevention of Organised Crime Act.
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He received a 15-year sentence for each count, totaling 495 years. However, the court ruled that the sentences for counts two to 33 would run concurrently with count one, resulting in an effective 15-year imprisonment.
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The sentencing has sparked widespread reactions online, with many netizens expressing shock and skepticism.
There is notable disapproval over the absence of convictions for EFF leader Julius Malema and deputy president Floyd Shivambu, who were also reportedly involved.
This major development has not only highlighted the extensive corruption within VBS Mutual Bank but also fueled ongoing discussions about accountability and justice in South Africa.
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#sapsHAWKS Mastermind in VBS Bank collapse gets 495 years' imprisonment. DPCI #Hawks welcomed the conclusion of the case against Mr Tshifiwa Matodzi (47), former chairperson of the defunct VBS Mutual Bank Board. Mr Matodzi, the primary accused in the case which involved severe… pic.twitter.com/rNdOqyTAPM
— SA Police Service 🇿🇦 (@SAPoliceService) July 10, 2024