Ten years in prison for a South African banker in the VBS affair
The head of the South African bank VBS was sentenced to 10 years in prison. He is accused of plundering the economy of the poorest. It is one of the biggest corruption scandals in South Africa.
On Wednesday, former CFO Philip Truter was the first to be convicted in the VBS case. VBS-mutual bank was nicknamed "the bank of the poor". Founded at the height of apartheid in 1982 in Venda, a former Bantustan far north in the country reserved by the white authorities for black communities, the bank housed the money for the most…