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Venda King fingered in R2 billion bank heist

by Mandla Ndlovu
26 Jun 2020 at 20:29hrs | Views
South Africa's Vhavenda King Khosikhulu Vho-Toni Mphephu Ramabulana has been fingered as a beneficiary of the R2 billion VBS Mutual Bank heist that seen Sipho Malaba the nephew of Chief Justice Luke Malaba being arrested.

According to a report titled The Great Bank Heist wrote by Advocate Terry Motau, assisted by Werksmans Attorneys, the King allegedly benefited to the tune of tens of millions of rands that flowed to his accounts or those of people and organizations associated with him.

The king's spokesperson, Advocate Makonde Mathivha has told South African media that Ramabulana will have no problem settling any legitimate VBS Mutual Bank debt he may have, but he needs to be properly informed of the details of the money he is supposed to owe.

Below is the list of people implicated and the amount they received:

    Vele and its associates, the majority shareholder in VBS R936,669,111

    VBS and Vele chairman Tshifhiwa Matodzi R325,896,831

    Free State Development Corporation R104,130,932

    Former Limpopo ANCYL leader and director: Moshate Investment Group Kabelo Matsepe R35,400,105

    Former KPMG partner Sipho Malaba R33,978,379

    VBS general head of treasury and capital management Phophi Mukhodobwane R30,572,296

    Attorney and Venda king's advisor Paul Makhavu R30,461,788

    Vele investments chief executive Robert Madzonga R30,372,282

    VBS chief executive Andile Ramavhunga R28,925,934

    VBS retail managing director Solly Maposa R24,441,877

    Gundo Wealth Solutions director and ANC connected Ralliom Razwinane R24,224,198

    Firmanox R17,748,384

    Venda king Toni Mphephu R17,729,758

    VBS/Vele spokesperson Ndivhuwo Khangale R16,830,091

    Businessman Sechaba Serote R16,653,458

    Former PIC head of legal Ernest Nesane R16,646,086

    Brian Shivambu, brother of the EFF's Floyd Shivambu R16,148,569

    Former PIC head of risk and compliance Paul Magula R14,818,098

    CA, Insure Group chief executive Charl Cilliers R12,683,947

    Tiisang Private Capital R12,489,230

    Vele Investments chairman, former MTN boss Maanda Manyatshe R11,279,242

    VBS sales general manager Sasa Nemabubuni R9,169,288

    Sabicorp R8,453,585

    VBS non-executive director & former SAPS CFO Avhashoni Ramikosi R5,972,288

    Brilliantel finance and admin manager Takalani Mmbi R4,404,178

    Matodzi personal assistant Phillip Tshililo R2,039,990





Source - Byo24News

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