Wife of Vele CEO claims he stashed R50m looted from VBS

2019-02-22 15:05

Khosi Madzonga, the estranged wife of embattled former Vele Investments CEO Robert Madzonga, has reportedly accused him of stashing millions from the bankrupted VBS Mutual Bank.

VBS scandal: Paul Mashatile admits ANC received 2 payments from Vele Investments

2018-11-01 20:28

ANC treasurer general Paul Mashatile has entered the fray in the debate relating to large-scale looting at VBS Mutual Bank, admitting that the party received R2m from the now collapsed bank.

VBS CEO: I knew, heard nothing

2018-07-22 06:05

Andile Ramavhunga claims ignorance of the fraudulently extracted R1.5 billion, though he does not deny it happened.

VBS 101 - from the masterminds to the mass fraud

2018-07-17 07:30

The case of VBS is complex and still unfolding. Here is a breakdown of what the bank was intended to be, the alleged fraud that occurred, and key figures said to be involved.


Who paid SACP's R3m venue for its national congress?

2018-11-14 08:12

While the SACP has denied claims that Vele Investments paid R3m to the Birchwood Hotel for the party's national congress last year, it says it can't say how it paid for the venue just yet as it is still considering its legal options.

Mogajane met with boss of VBS shareholder, Sunday Times reports

2018-10-28 14:32

National Treasury director general Dondo Mogajane was invited to the private home of Vele Investments executive chair Tshifhiwa Motodzi before the collapse of VBS Mutual Bank, Sunday Times reported on Sunday.

PIC duo's shady payouts

2018-07-22 06:05

Public Investment Corporation executives Paul Magula and Ernest Nesane both allegedly received monthly payments from Vele Investments for over a year, totalling around R5m each.

EXPOSED: The power struggle rocking VBS Mutual Bank’s main shareholder

2018-07-13 12:26

A power struggle between two central figures in Vele Investments, the company which may have become beleaguered VBS Mutual Bank’s majority shareholder through fraudulent means, has led to claims that one has illegally fired the other.

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