Mastermind behind VBS Bank Collapse gets a 495 years imprisonment sentence

Inside Politics Reporter

THE Directorate for Priority Crime Investigation (DPCI) has welcomed the conclusion of the case against 47-year-old Tshifiwa Matodzi, the former chairperson of the defunct VBS Mutual Bank Board who was on Wednesday sentenced to 495 years in prison on 33 charges. 

Although the combined sentence amounts to 495 years, the court has ordered that the sentences for counts 2 to 33 run concurrently with count 1. Consequently, Matodzi will serve an effective 15 years imprisonment. He was also declared unfit to possess a firearm. 

Upon realisation that the investigation team within Serious Corruption Investigation had done due diligence,  pleaded guilty and entered into a plea agreement with the State, the Haws said in a press statement.

Matodzi, the primary accused in the case which involved severe offences including corruption, theft, fraud, money laundering, and a pattern of racketeering activities that culminated in the downfall of VBS Mutual