While non-governmental organisation Defend our Democracy has applauded the conviction of former VBS Mutual Bank board chairperson Tshifhiwa Matodzi, the movement wants to see more prosecutions.

On Wednesday, Matodzi was given a 15-year sentence, each, for charges of theft, fraud, money laundering and a pattern of racketeering activities.

The movement said evidence showed that Matodzi was a kingpin in the theft of around R2-billion invested in VBS by, among others, poor South African pensioners and struggling municipalities.

Defend our Democracy said Matodzi was “certainly not the sole perpetrator of the elaborate and devastating theft”.

It noted that the crime was reportedly facilitated by several politically connected individuals who were enriched, which Defend our Democracy said is a “wicked and flagrant” betrayal of their oath to serve the public, and particularly the vulnerable.

The movement wants the Hawks, the National Prosecuting Authority and Treasury to be enabled to bring those involved to justice and to undo the belief that political connections mean immunity.

Other institutions such as the Asset Forfeiture Unit and the South African Revenue Service must also be supported to do all they can to recoup the stolen funds, it added.

Defend our Democracy said VBS victims cannot be forgotten, noting that residents in many of the most poorly served municipalities can scarcely hope for improved service delivery when municipal funds invested in VBS were stolen.

“Destitute South African pensioners, in many instances, their entire life savings swiped, face their retirement years frightened and hungry. Full accountability demands that they be compensated,” it said.