Seven of the eight suspects in the #VBS matter will appear in the Palmridge Court this morning.
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#VBS Remember the 8th suspect is in quarantine due to #Covid_19.
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#VBS Just bumped into the legal representative of Sipho Malaba, the KPMG auditor accused of covering up the alleged fraud.
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We are starting with other court matters first.
The #VBS accused are facing 47 counts of fraud and racketeering.
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Legal representatives for the accused in the #VBS matter. We should start shortly.
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The State indicates it is not opposing bail in the #VBS matter.

This shortly after the accused walked into court.

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Former #VBS and Vele Investments chairperson Tshifhiwa Matodzi's legal representative is now reading his affidavit in his application for bail.

The state is not opposing bail.
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#VBS Matodzi in his affidavit says he is not a flight risk.

He has not intention to interfere with witnesses. He says he has good relationships with people and bares no grudges.
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#VBS Matodzi in his affidavit for bail application says he is currently unemployed.
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#VBS Matodzi in the affidavit during his bail application says that he was recently diagnosed with diabetes.
He says his further incarceration would create a risk to contracting #Covid19.
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The legal representative for former #VBS CEO, Andile Ramavhunga is now reading the affidavit in his application for bail.
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#VBS Ramavhunga in his affidavit says he intends to plead not guilty to all the charges against him.
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#VBS Ramavhunga in his affidavit says he will not evade trial and will not interfere with state witnesses.
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Former General Manager of Treasury at #VBS, Phophi Mukhodobwane also now applying for bail in an affidavit being read out by his legal representative.
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#VBS Mukhodobwane says he will be severely prejudiced if he was to be denied bail, he would not be able to have an income.
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#VBS Mukhodobwane in his affidavit appeals to the court to grant him bail of R 20 000 because of his circumstances.

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Sipho Malaba, a former partner at auditing firm KPMG. Malaba is accused of cooking #VBS's books. He is also applying for bail through an affidavit being read by his legal representative.
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