Troubles mounting for Matodzi
TROUBLES are growing for Tshifhiwa Matodzi – the man who allegedly masterminded the fall of VBS Mutual Bank – after he was summoned to appear before a professional body of chartered accountants for misconduct.
Matodzi and VBS chief executive Andile Ramavhunga have both been summoned to appear before the South African Institute of Chartered Accountants’ (SAICA) tribunal on December 6 following allegations of their involvement in the looting of almost R2 billion from VBS Bank.
SAICA, however, has refused to divulge the charges against the two – who are both chartered accountants. The professional body said members of the public will be allowed to attend the hearings.
Matodzi, through his Vele investments, allegedly received more than R936.6 million, according to a Reserve Bank report. Vele was the majority shareholder at VBS.
The report further states that Matodzi received an additional R325.8m in his personal account. Ramavhunga and his wife allegedly received more than R28.9m of the alleged loot.
Meanwhile, in the North West, a local municipality mayor, Boitumelo Mahlangu, is in hot water following revelations that her municipality had failed to account for almost R50m which was “inappropriately reported” to have been invested with VBS Mutual Bank.
It has now emerged that the Dr Ruth Segomotsi Mompati district municipality in Vryburg had actually invested R101m following the realease of advocate Terry Motau’s “Great Bank Heist” report.
This, however, contradicts the municipal manager Jerry Mononela’s version contained in the forensic report commissioned by the North West provincial government that the municipality
R150 million.
The Sekela Xabiso forensic report indicated that Mononela fully cooperated with their investigations while the former chief financial officer, Segomotso Phatudi, refused to co-operate with the investigators.
Now opposition parties in the district municipality in Vryburg in the North West have expressed their outrage after a council meeting which was due to be held tomorrow was postponed indefinitely.
The EFF and DA also wanted the shortfall to be discussed at the meeting.
ANC North West spokesperson Kabelo Mataboge did not respond to questions.
Yesterday the EFF’s North West deputy chairperson Mothusi Montwedi said his party’s councillors believed that the “indefinite postponement” of the meeting was aimed at blocking them from presenting their motion of no confidence against Mahlangu. had invested