More people going to be arrested in the VBS scandal - Hawks

Former Chief Financial Officer of the now-defunct VBS Mutual bank - Phillip Truter - has spent his first night in jail after he was sentenced yesterday to an effective 7 years imprisonment by the Specialised Commercial Crimes Court sitting at the Palm Ridge Court on Gauteng's East Rand. Truter entered into a plea agreement with the state where he pleaded guilty to all six charges against him, including corruption, fraud, money laundering and tax evasion. He has also agreed to turn state witness and testify in the case of his seven co-accused.