Former MTN executive Robert Madzonga says VBS arrests show he is innocent

Robert Madzonga, who served as VBS COO and CEO of its parent company, Vele Investments, says the fact that he was not arrested shows he “did not steal a cent”.

Last week eight people linked to the stealing of millions from VBS Mutual Bank, which resulted in the collapse of the institution, were arrested.

These arrests relate to the theft of R122-million, only a small part of over R2-billion which was siphoned off from the bank.

One of the people arrested is VBS and Vele Investments chairperson Tshifhiwa Matodzi, who is seen as the alleged kingpin of the heist.

Others include former VBS chief executive officer, Andile Ramavhunga and former VBS chief financial officer, Philip Truter.

Madzonga, who held senior positions at both VBS Mutual Bank and its parent company, Vele Investments at the time of the corruption was not arrested.

This surprised many people as Madzonga was previously seen as one of the kingpins of the VBS heist.

Last year Madzonga’s estranged wife, Khosi Madzonga accused him of stealing and hiding million from VBS.

In an interview with Radio 702, Khosi Madzonga said she had no part in the VBS scandal and that she wanted to clear her name.

This followed a social media storm after she posted pictures next to various luxury vehicles, including a Mercedes-Benz G63, a Lamborghini and a Rolls-Royce Phantom.

Robert Madzonga says arrests show he is innocent

Today the Sunday Times reported that Madzonga said “being left out when his former colleagues were arrested can mean only one thing – that he is innocent”.

“The arrest of the VBS eight has vindicated me and it proves what I have been saying all along – that I did not steal a cent,” Madzonga said.

“If there was something against me, I also would have been picked up by now. This round focused on people who ran the bank and Vele Investments.”

He said the authorities have nothing against him and that he feels happy and vindicated.

Madzonga has approached the Supreme Court of Appeal to overturn his sequestration which was granted by the Johannesburg High Court.

A recent report by The Citizen said Madzonga has now reinvented himself as an “anointed, holy spirit-appointed” apostle in the Divine Healing and Deliverance Ministry church.

Madzonga and MTN

Madzonga is no stranger to controversy. In 2013, when he served as MTN SA’s chief corporate services, he was suspended over his role in the diversion of sponsorship funds for the ICT Indaba.

MTN’s GM of business risk management at the time, Lily Zondo, allegedly accused Madzonga of receiving some of the money paid to former communications minister Dina Pule‘s boyfriend Phosa Mngqibisa, who was organising the ICT Indaba.

Madzonga did not take this suspension lying down and threatened to take legal action against then MTN SA MD Karel Pienaar, human resource director Themba Nyathi and Zondo.

Madzonga said the string of suspensions, resignations and disciplinary action at the operator at the time was a result of top management covering their tracks.

He further accused MTN of being unfair in its disciplinary processes; most notably in the treatment of his “white counterparts”.

Madzonga approached the labour court to lift his suspension, opened a defamation case against Zondo and accused MTN of spying on him.

The labour court dismissed his application with costs, and he ultimately parted ways with the mobile operator.

Now read: R5.7 million spent in five days by one person – Big UIF fraud investigated

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Former MTN executive Robert Madzonga says VBS arrests show he is innocent