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Financial News

Tshifhiwa Matodzi, the former chairperson of VBS Mutual Bank during the scandalous looting that took place, has been found guilty and been sentenced.

Matodzi admitted to 33 crimes, including corruption, theft, fraud, money laundering, and racketeering and will now head to jail. Although the combined sentence totals 495 years, he will serve 15 years because the court ordered the sentences to run at the same time.

For more information check out this story:

www.debtfreedigi.co.za/vbs-mastermind-jailed/