Former VBS boss 'dispensed loans to pals, family'
Vele Investment chief executive and former VBS Mutual Bank chairman Tshifhiwa Matodzi is under police investigation for allegedly giving his family and friends loans amounting to R8-million.
Matodzi resigned from VBS in March after the South African Reserve Bank placed the bank under curatorship.
According to the Hawks, the unit received anonymous tip-offs alleging wrongdoings with regards to irregular awarding of loans by Matodzi.
"It is alleged that loans were given by one Mr Tshifhiwa Matodzi, the chairman of VBS Mutual Bank, to companies belonging to friends and family which have not been repaid.
"It was indicated that during 2016 about R8 250 000 was paid into various friends and families' accounts," reads a draft investigation report compiled by the Hawks.
Vele Investment spokesman Ndivhuwo Khangale said Matodzi denied the allegations saying: "Matodzi is not aware of any criminal investigation against him."
A Hawks insider told Sowetan that bank statements have been obtained in respect of the accounts involved.
Hawks spokesman Brigadier Hangwani Mulaudzi confirmed that they started investigating after they received an enquiry into the matter.
"The head of the Hawks will decide which component within the Hawks will take the investigation further," he said.
Sowetan understands that yesterday the Hawks head Lieutenant-General Godfrey Lebeya met with senior investigators regarding the probe into the VBS, although Mulaudzi said it was a normal management meeting.
Would you like to comment on this article or view other readers' comments? Register (it’s quick and free) or sign in now.
Please read our Comment Policy before commenting.