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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

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