'We gave cash to political parties' - Former VBS chairperson Tshifhiwa Matodzi

Former chairman of VBS Mutual Bank Tshifhiwa Matodzi is adamant he did nothing wrong in the collapse of the bank. /Mduduzi Ndzingi
Former chairman of VBS Mutual Bank Tshifhiwa Matodzi is adamant he did nothing wrong in the collapse of the bank. /Mduduzi Ndzingi

Former VBS Mutual Bank chairperson Tshifhiwa Matodzi, who is reported to have unduly pocketed R325m has revealed that four major political parties benefited from the embattled institution.

Speaking for the first time Matodzi told Sowetan the investigation report was "very selective" because it doesn't mention all political parties that benefited from the bank.

"The report is very selective in that it did not mention that the ANC, DA, SACP and EFF all benefited from the bank. They would approach us in a form of requesting sponsorship and there was nothing wrong with that," he said.

However, when later asked to clarify how the parties benefited, he said he was giving an example that he might have done business with members of those parties.

"One of those people could decide to contribute to their parties using [a] VBS account. It's like Floyd Shivambu's brother; he was a consultant in one of our companies. He is an engineer and he worked for his money. We didn't deal with Floyd and never paid any political party," he said.

Matodzi said he was worried the bank was perceived to have paid Floyd Shivambu.

The SACP and the DA have denied that they benefited anyhow from VBS.

DA spokesperson Solly Malatsi said the allegations were untrue, while Alex Mashilo of the SACP said the party had never received a cent from VBS.

Matodzi yesterday described the investigation report released on Wednesday as a "novel".

Matodzi was projected as the most central character in the investigation report titled "The Great Bank Heist" by advocate Terry Motau.

Speaking to Sowetan in a telephonic interview, Matodzi slammed the report for leaving out key details.

"The report doesn't say how I got the money and where it is. All those things in the report were fit to be reported by the curator and not the investigator," Matodzi said.

"I expected the forensic report to detail and bring out paper trails on how the crime was committed."

Matodzi denied netting R325m from the bank. He said his Vele Investments was a "well established" company worth R40bn. He said most of the VBS money was loaned out for homes.

"Before Vele was dismantled by the curator through sequestration we were in properties, car insurance and transport businesses, hence we could afford a chopper," he boasted.

"The report is not balanced. It's just a summary of statements."

In the report, Motau said there was an overwhelming evidence that had been gathered from numerous sources which revealed Matodzi to be the kingpin in the fraudulent and the fictitious conduct of VBS business.

Motau added that in the light of Matodzi's denial of his involvement, he then adopted the view that it would be a waste of time and resources to give him (Matodzi) a platform to plead his innocence.

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