Streaming issues? Report here
Aubrey Masango 2019 BW Aubrey Masango 2019 BW
The Aubrey Masango Show
20:00 - 22:00
volume_up
volume_mute

Up Next: Best of CapeTalk
See full line-up
The Aubrey Masango Show
20:00 - 22:00
Home
arrow_forward
Business
fiber_manual_record
Politics

VBS CFO Truter 'was the sentinel who should have sounded the alarm'

8 July 2020 7:28 AM
Tags:
Pauli van Wyk
vbs
Phillip Truter

Scorpio investigative journalist at Daily Maverick, Pauli van Wyk explains how VBS CFO Philip Truter was paid to keep quiet.

Get used to the name Philip Truter, because he is going to become a key figure in the state's case against those accused of looting VBS of nearly R3 billion.

Truter is the latest, and possibly most important arrest in a string of busts relating to the collapsed banking society. He was VBS' Chief Financial Officer, one of its main gatekeepers. And the state is banking on his knowledge of the looting that took place as they prepare to prosecute seven others in the matter.

Investigative journalist Pauli Van Wyk speaks to Refilwe Moloto about the arrest of looted VBS Chief Financial Officer, Philip Truter and why he has been in the shadows in this high profile investigation.

She wrote about CFO of VBS Philip Truterin 2018 and another profile early this year, she says, but often politicians focus on aspects they choose to elevate and that may be why his name was less known to the public.

He was the financial head of VBS and received R5.8 million

All that money was gratuitous.

Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit

She says while this might not seem like an enormous amount compared to the rest of the money allegedly stolen, he was a key player. The breaches he committed resulted in the bank imploding so the amount of money he received should not be used to judge the seriousness of his crimes, she adds.

He was the sentinel who should have sounded the alarm.

Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit

He was the most important person in VBS to raise the alarm and say something is not right here. If he had doen his job we would have known far earlier that poor people's money was stolen.

Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit

It is a crime under the Company's Act not to disclose this information.

Truter was one of the key professionals in VBS and he allowed himself to be dictated to...he put blinkers on.

Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit

Truter was paid to keep quiet, she says.

He has said he will plead guilty and testify against his former colleagues, she adds.

Van Wyk says he is in talks with the state to finalise a plea deal.

Listen to the interview below:


8 July 2020 7:28 AM
Tags:
Pauli van Wyk
vbs
Phillip Truter

More from Business

performance-3202707-1920jpg

Nigerian Afrobeats star aims to raise $20m to fund the continent's musicians

6 August 2020 9:03 PM

'Mr Eazi' launched the Africa Music Fund to support the continent's creative talent. Bruce Whitfield interviews Lee Kasumba.

Share this:
Read More arrow_forward

oranges-1117628-1920jpg

Good news for local citrus industry: Bumper season expected for US exports

6 August 2020 8:38 PM

Justin Chadwick (Citrus Growers' Association) says it's all thanks to the perceived immune-boosting attraction of Vitamin C.

Share this:
Read More arrow_forward

liquor-store-sales-wine-champagne-mmc-brut-bubbly-alcohol-booze-drinking-123rf

Former Shoprite CEO joins court battle against alcohol ban - Govt is too slow!

6 August 2020 7:36 PM

Bruce Whitfield interviews Whitey Basson who says it's just not good enough for govt to say the ban will be lifted but not when.

Share this:
Read More arrow_forward

MTN-cellphone-network-service-provider-data-airtime-calls-123rf

MTN to quit Middle East to focus on Africa

6 August 2020 6:55 PM

Bruce Whitfield talks to MTN CFO Ralph Mupita about the reasons for the move and the company's huge profit increase.

Share this:
Read More arrow_forward

20200425ndzonlevel4jpg

Despairing wine farmers to battle Nkosazana Dlamini Zuma in court on 18 August

6 August 2020 2:30 PM

"It’s not rational to allow packed taxis, but not a glass of wine in a controlled environment," says Francois Rossouw.

Share this:
Read More arrow_forward

samsungjpg

In the market for a new cellphone? Here's one that costs as much as a used car!

6 August 2020 12:32 PM

Samsung's latest offering, the Galaxy Note20 smartphone, goes on sale in South Africa on 21 August as Kieno Kammies finds out...

Share this:
Read More arrow_forward

scz-0623jpg

Bantu Holomisa has an idea to remove ANC 'thieves' from power before 2024

6 August 2020 9:36 AM

"If I was President Cyril Ramaphosa, I would take these suggestions seriously," says the UDM leader Bantu Holomisa.

Share this:
Read More arrow_forward

afrika-tikkunjpg

SA needs 'the Madiba compassion' more than ever now, says Afrika Tikkun CEO

5 August 2020 8:54 PM

Marc Lubner on the NGO's programmes for young South Africans and how working with Nelson Mandela inspired his life's work.

Share this:
Read More arrow_forward

car insurance short-term cover 123rfbusiness 123rflifestyle 123rf

Why it's a bad idea to ditch or downgrade your car insurance to save on costs

5 August 2020 8:21 PM

Involved in an accident you didn't cause? Third party claims don't pay out much. Wendy Knowler shares one driver's horror story.

Share this:
Read More arrow_forward

liberty-ceo-david-munrojpg

Liberty reports R2.2b loss amid pandemic, but 'capital ratio remains strong'

5 August 2020 7:53 PM

Liberty's David Munro tells The Money Show its R3b pandemic reserve shows the insurer 'truly living out its purpose'.

Share this:
Read More arrow_forward

More from Politics

liquor-store-sales-wine-champagne-mmc-brut-bubbly-alcohol-booze-drinking-123rf

Former Shoprite CEO joins court battle against alcohol ban - Govt is too slow!

6 August 2020 7:36 PM

Bruce Whitfield interviews Whitey Basson who says it's just not good enough for govt to say the ban will be lifted but not when.

Share this:
Read More arrow_forward

Ronald Lamola

Lamola to lead new Cabinet committee aimed at tackling Covid tender corruption

6 August 2020 7:26 PM

Justice and Correctional Services Minister Ronald Lamola will chair a six-member Cabinet committee established to deal with alleged Covid-19 tender graft.

Share this:
Read More arrow_forward

20200425ndzonlevel4jpg

Despairing wine farmers to battle Nkosazana Dlamini Zuma in court on 18 August

6 August 2020 2:30 PM

"It’s not rational to allow packed taxis, but not a glass of wine in a controlled environment," says Francois Rossouw.

Share this:
Read More arrow_forward

Former Eskom CEO Brian Molefe

A R3.8bn civil claim against a 'rouge gallery', but no criminal charges yet...?

6 August 2020 2:16 PM

Eskom and the SIU want to recoup R3.8 billion lost to corruption from former Eskom execs and members of the Gupta family.

Share this:
Read More arrow_forward

cyril-acejpg

'Arrest Ace Magashule – and 1 or 2 others – then things will move fast'

6 August 2020 1:01 PM

“This is good stuff,” says Wayne Duvenage about the halting of pension payouts to government employees implicated in corruption.

Share this:
Read More arrow_forward

screengrab-of-joe-biden-from-trump-campaign-video-twitterpng

Trump campaign ad shows fake doctored images of Biden painting him as dejected

6 August 2020 10:43 AM

The Trump Campaign released a new ad endorsed by Donald Trump showing opponent Joe Biden looking alone and dejected.

Share this:
Read More arrow_forward

scz-0623jpg

Bantu Holomisa has an idea to remove ANC 'thieves' from power before 2024

6 August 2020 9:36 AM

"If I was President Cyril Ramaphosa, I would take these suggestions seriously," says the UDM leader Bantu Holomisa.

Share this:
Read More arrow_forward

Covid-19-PPE-personal-protective-equipment-gloves-mask-glasses-healthcare-123rf

PPE corruption: Mboweni must issue Treasury instruction for open tenders, say DA

6 August 2020 9:00 AM

DA Finance Shadow Minister Geordin Hill-Lewis says both the DA and Cosatu warned govt as early as May that graft was inevitable.

Share this:
Read More arrow_forward

Red wine white woman female funny reaction 123rf 123rflifestyle

Alcohol industry 'optimistic' that sales prohibition will soon be lifted

5 August 2020 1:15 PM

"If allowed to trade, we can’t be on the edge of our seats every time that the President is about to speak," pleads Kurt Moore.

Share this:
Read More arrow_forward

Alcohol gender-based violence gbv 123rf 123rflifestyle domestic abuse

How to change boys' perception of what it means to be 'a real man'

5 August 2020 9:52 AM

Refilwe speaks to professors Malose Langa and Kopano Ratele about masculinity and raising upstanding men.

Share this:
Read More arrow_forward