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Only Two Of Seven VBS Accused Paid R100,000 Bail – NPA

The National Prosecuting Authority (NPA) said that only two of the seven VBS Mutual Bank accused paid the R100,000 bail set by the Palm Ridge Regional court on Thursday.

The court had set a deadline of 4pm yesterday, failing which they would be detained again.

Investigating officers are yet to confirm if the remaining five were detained at the Midrand Police Station as the court had ordered.

Former VBS Mutual Bank CEO Andile Ramavhunga and former PIC nominee Phalaphala Ramikosi were the only ones who made the cut by the 4pm deadline.

Former chairperson and alleged mastermind Tshifhiwa Matodzi is among those who didn’t make the payment.

The seven of the eight accused, who allegedly directly and indirectly pocketed a collective R122 million, pleaded with the court to reduce the bail amount.

Some had asked for bail as low as R10,000 but Magistrate Brian Nemavhidi told them they couldn’t claim poverty.