The release of former VBS Mutual Bank CFO Phillip Truter from prison on parole after serving three years and six months for corruption in the bank's looting saga has sparked debate on social media.
Truter was sentenced to 10 years, three suspended for five years, in 2020 by the Johannesburg specialised commercial crimes court after being convicted of fraud, money laundering, corruption and racketeering.
Correctional services spokesperson Singabakho Nxumalo said the department followed the law when granting Truter parole.
“Truter was admitted after his conviction and began serving his sentence of seven years. He became eligible for parole after reaching the minimum detention period as per the Correctional Services Act. The parole board approved his release on April 12,” Nxumalo said in an interview with Newzroom Afrika.
There have been mixed reactions on social media about his release. While some people believed Truter deserved parole others said the decision would not deter criminals from committing serious financial crimes.
TimesLIVE
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