Some victims of the defunct VBS Mutual Bank saga, have cautiously welcomed the release on parole of the bank's former Chief Financial Officer. Phillip Truter was freed on April 12, after serving the minimum required of his seven-year jail term. Truter was initially sentenced to 10 years imprisonment in 2020, an effective seven years. He was the first VBS executive to plead guilty to charges related to the collapse of the bank. The bank's former chairperson, Tshifhiwa Matodzi, has also pleaded guilty to similar charges, receiving a 15-year prison sentence.
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