‘I'm not getting any younger,' says judge as VBS Bank case delayed again
The long-running Venda Building Society (VBS) Mutual Bank fraud and corruption case has once again been delayed, with proceedings now postponed until next year.
On Monday, 13 suspects linked to the looting of the VBS appeared before the Gauteng High Court in Pretoria.
Among them are former bank executives and several politicians accused of defrauding the collapsed bank of more than R2 billion.
ALSO READ: Mayor claims she was exonerated of VBS graft allegations
The trial has faced repeated delays, partly due to interlocutory applications brought by some of the accused.
Former ANC Youth League (ANCYL) leader Kabelo Matsepe and former Limpopo ANC treasurer Danny Msiza last year sought to have their trials separated or, alternatively, to secure a temporary stay of prosecution, citing delays in the matter.
In August 2024, Judge Peter Mabuse granted their applications, but the state appealed the ruling at the Supreme Court of Appeal (SCA).
VBS Bank case postponed
On Monday, the case could not proceed as more of the accused signalled their intention to also separate their trials, arguing that the drawn-out process is prejudicial.
Prosecutor Hein van der Merwe told the court that the state is still awaiting the SCA's response to its petition.
He asked for a postponement, while the defence objected, saying it was unfair for some of the accused – many of whom live in Limpopo – to travel to Gauteng only for proceedings to be adjourned.
Mabuse nonetheless granted the postponement, though no trial date has yet been fixed.
'In that case, I order that this matter be postponed to 9 February 2026,' the judge ruled.
The bail conditions of the accused were extended.
Mabuse added light-heartedly: 'Please in the meantime bear in mind that I'm not getting any younger.'
State prosecutor Hein van der Merwe at the Pretoria High Court on 14 August 2024. Picture: Gallo Images / Deaan Vivier
So far, at least 35 people have been arrested in connection with the scandal, and six convictions have been secured.
Among them was last year's sentencing of former VBS chairperson Tshifhiwa Matodzi, who received 15 years in prison for stealing more than R1.9 billion.
In addition, liquidators have managed to recover R730 million from the bank's collapse in 2018.
The recovered funds will be paid to verified creditors, including municipalities, trade creditors, and retail depositors with balances exceeding R100 000.
NOW READ: Rebuild VBS, urges ANC treasurer-general
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