VBS Mutual Bank fraud accused and the defunct bank’s former executive, Robert Madzonga, who is now a pastor, allegedly forced B3 funeral parlour founder and chairman, Matthews Mogafe, to transfer millions of rands into his cousin’s bank account at gunpoint after he cornered the businessman with his goons at a golf course.
In an exclusive interview with Sunday World on Friday, Mogafe explained how Madzonga, a pastor of Johannesburg-based church Divine Healing and Deliverance Ministry, allegedly threatened his life and extorted R10-million from him at a gunpoint.
“I had applied for a R10-million loan from VBS, which was approved and I received the money, but their trouble started before I could start paying it back.
“One day out of the blue, Madzonga approached me and asked me to pay back the loan directly to him, which I refused, as the loan was made from a company and not an individual. He claimed that he had personally paid the loan back on my behalf. I asked for proof and I never received any,” Mogafe said.
Mogafe also explained that days later, after his first encounter with Madzonga, he was allegedly cornered by him and two armed men at the Southdowns golf course, south of Johannesburg, and threatened him with violence.
“They forced me at gunpoint to transfer R4-million from my iPad into a Capitec bank account, which I later established belongs to one of Madzonga’s cousins. I paid all the R10-million in three transactions within four weeks.”
Mogafe said then months later he was approached by VBS liquidators, who told him that according to records, he received a loan, which he never paid back.
“I told the liquidators my story with Madzonga but they said I must pay back the loan regardless and claim my R10-million from Madzonga. The liquidators told the Hawks about the incident and a case of extortion was opened against Madzonga.
“I called Madzonga on the day the liquidators told me that I was still owing on my loan and he told me that he will refund me. My lawyers asked me to stop communicating with him and allow the law to take its course,” he explained.
Mogafe said that he paid the loan back with interest to the liquidators.
“I managed to pay back the loan last month and paid back R13-million as I had to pay back with interest. So, I have paid R23-million for a R10-million loan as I am still waiting for Madzonga to repay me.”
Madzonga was the MTN executive before he left under a cloud to join VBS as chief operating officer and chief executive of Vele Investment, which was the mutual bank’s holding company. Madzonga is accused of having benefited to the tune of R30-million, which was
looted from VBS.
Madzonga and other VBS executives, had been charged and later released on bail by the Palm Ridge Commercial Court in March this year for allegedly looting nearly R2-billion from the mutual bank, which was later liquidated.
More than 30 people have been arrested so far in connection with the VBS scandal.
Sunday World understands that the Hawks finalised their investigation on the Madzonga matter and submitted the documents to the NPA for decision in August last year.
NPA South Gauteng spokesperson, Phindi Mjonondwane, yesterday confirmed that they had received the docket but refused to give more details about the case, which continues to hog media headlines.
“At this point we can confirm that the docket was submitted to the NPA, the matter is being studied and once a decision has been made we will communicate it to the concerned parties. We will not comment on this matter prematurely at this stage as this may affect the case once in court,” she said.
Attempts to solicit comments from Madzonga drew a blank as he ignored our phone calls and failed to respond to written questions sent to him on Friday.
May ALL those, who benefitted from the looting of VBS…. Rot in a jail cell. May all the properties and possessions and that of their family members, friends, etc, be liquidated and the proceeds thereof, paid to so many of the poorest of poor, who they robbed of their life savings and pensions!
The thing is that the ANC cannot let those who stole the money to go to jail.
How does the ANC come into the picture because the matter is a judicial matter. It may be ideal to give the judiciary pressure to conclude the case and those found guilty not only implicated serve their sentences.
I agree wholeheartedly. Jail for them. All of them
I support Andre Jacob’s comments wholeheartedly. He has said a mouth full. That’s my wish that all their bank accounts be frozen and assets forfeited to the state funds be paid back to the victims.
It’s sickening that those thugs are still enjoying the loot.
The NPA’s delay is unacceptable. It’s astonishing that no one has been prosecuted after such a long time, despite clear evidence. This clearly indicates the state’s lack of commitment to prosecuting wrongdoers.
shame!The cadres benefited and won’t be prosecuted .Ask the NPA & will confirm
Very fantastic story, this one. It smells rotten from miles. Imagine someone who borrowed such a lot of money, is forced at “gun point” days later to repay it which he does. Later he is again forced to pay the same amount to a third-party, which he does promptly. Did he really need the loan in the first place? South Africa really is a land of interesting stories.
My curiosity as well did he really need it more investigation’s needs to be conducted this is doggy
VBS issue always take a back seat during parliamentary debates. Politicians have disinvested from VBS.
i 😮😮thought Mogafe has passed away as was on the media