Forensic accountant to conclude testimony in VBS looting case
A forensic accountant is expected to conclude his testimony in the case of looting the now-defunct VBS Mutual Bank on Thursday.
Ryan Sacks compiled forensic reports on the looting of the bank. He has been testifying in the trial of former Thulamela Municipal Mayor, Avhashoni Tshifhango, in the Polokwane Specialised Commercial Crimes Court in Limpopo.
Tshifhango allegedly received a vehicle valued at more than R500 000 as a bribe after the municipality invested R30 million in the bank.
Sacks has testified that some senior officials at VBS had opened six accounts with ABSA bank, where they had deposited money allegedly stolen from the mutual bank.
He said that former VBS chairperson Tshifhiwa Matodzi was one of the account holders.
VIDEO | Background of the VBS Mutual Bank scandal: