Streaming issues? Report here
John Maytham 2019 1500 BW John Maytham 2019 1500 BW
Afternoon Drive with John Maytham
15:00 - 18:00
volume_up
volume_mute

Up Next: The Money Show with Bruce Whitfield
See full line-up
Afternoon Drive with John Maytham
15:00 - 18:00
Home
arrow_forward
Business
fiber_manual_record
Opinion
fiber_manual_record
Politics

No theft at VBS. It’s politics and racism – alleged kingpin Tshifhiwa Matodzi

6 July 2020 6:22 PM
Tags:
EFF
Jacob Zuma
ANC
Crime
Corruption
VBS Mutual Bank
Daily Maverick
amaBhungane Centre for Investigative Journalism
Tshifhiwa Matodzi
Dewald van Rensburg

Bruce Whitfield talks to amaBhungane investigative journalist Dewald van Rensburg, who extensively interviewed Matodzi.

Tshifhiwa Matodzi – who allegedly coordinated the looting to death of VBS Mutual Bank – told the amaBhungane Centre for Investigative Journalism that he is the victim of powerful political forces who are pinning fictitious crimes on him.

Former VBS Mutual Bank chair Tshifhiwa Matodzi appears in the Palm Ridge Regional Court on 18 June 2020 on various charges related to the theft of billions of rands from the bank. Picture: Kayleen Morgan/EWN

Matodzi and six co-accused appeared in court in June on 47 charges of racketeering, theft, fraud and money-laundering.

“Matodzi told me that far from being the ‘mastermind’ of VBS’s destruction, he was, in fact, the 'mastermind of saving the bank' from certain collapse back in 2013,” said amaBhungane investigative journalist Dewald van Rensburg, who extensively interviewed Matodzi.

“That forensic [investigation by Advocate Terry Motau, producing the 'Great Bank Heist' report] is the worst forensic of all time, it is the worst,” Matodzi told Van Rensburg.

“It is not right for lawyers to conduct forensic reports because they do not have a standard defining things. When you are an auditor there are certain rules and terms, but what is a ‘loot’? Imagine if you say an accountant must do a nuclear compliance report."


For more detail, read: ‘We must bow out with pride,’ says VBS boss Tshifhiwa Matodzi – Daily Maverick


The powerful forces Matodzi accuses of trying to bring him down include supposedly white banks that, he claims, won’t tolerate successful black competitors and an ANC faction in opposition to VBS Mutual Bank’s support of Jacob Zuma.

Matodzi remarkably asserts that there was no theft at VBS – the money is either safe somewhere, he says, or it never existed.

The Money Show’s Bruce Whitfield interviewed Van Rensburg.

He seems very sincere. He’s an incredibly likeable guy. He doesn’t come across as a crazy person…

Dewald van Rensburg, investigative journalist - amaBhungane Centre for Investigative Journalism

… it was the original EFF position… that narrative has died down… His [Advocate Terry Motau] evidence is very compelling…

Dewald van Rensburg, investigative journalist - amaBhungane Centre for Investigative Journalism

There’s a bit of hubris to it… Forbes Africa was writing puff pieces about Matodzi…

Dewald van Rensburg, investigative journalist - amaBhungane Centre for Investigative Journalism

Philip Truter – the CFO – is talking about becoming a state witness… which is why he is pleading guilty…

Dewald van Rensburg, investigative journalist - amaBhungane Centre for Investigative Journalism

Listen to the interview in the audio below.


6 July 2020 6:22 PM
Tags:
EFF
Jacob Zuma
ANC
Crime
Corruption
VBS Mutual Bank
Daily Maverick
amaBhungane Centre for Investigative Journalism
Tshifhiwa Matodzi
Dewald van Rensburg

More from Business

Red wine white woman female funny reaction 123rf 123rflifestyle

Alcohol industry 'optimistic' that sales prohibition will soon be lifted

5 August 2020 1:15 PM

"If allowed to trade, we can’t be on the edge of our seats every time that the President is about to speak," pleads Kurt Moore.

Share this:
Read More arrow_forward

premier-alan-winde-wearing-face-maskjpg

Premier Winde grilled about why consortium got big share of WC govt's PPE tender

5 August 2020 1:12 PM

Western Cape Premier Alan Winde has denied any suggestions that the provincial government awards its PPE contracts to suppliers with "access to power".

Share this:
Read More arrow_forward

Samsung  Galaxy S6 Edge smartphone 123rf 123rfbusiness

Get cash for your old Samsung, iPhone. Flip Phone collects, pays out instantly

5 August 2020 11:59 AM

You can also buy inexpensive, certified pre-owned phones. Kieno Kammies talks to Flip Phone founder Conor Copas.

Share this:
Read More arrow_forward

absajpg

Absa wins international award for its response to Covid-19

5 August 2020 11:38 AM

The bank is one of only six in the world to be recognised in this way for outstanding performance during the global health crisis.

Share this:
Read More arrow_forward

zoom-backdropjpg

CT businessman creates free-to-use Zoom backdrop in a bid to promote Mother City

5 August 2020 11:23 AM

Ditch the Golden Gate Bridge on Zoom! You can now spruce up your work-from-home backdrop while also putting Cape Town on the map.

Share this:
Read More arrow_forward

nike-adpng

[WATCH] Why Nike's new tv advert is 'absolutely extraordinary'

4 August 2020 8:09 PM

Nike's hit the mark, again, with its latest tv ad campaign. Branding expert Andy Rice awards it this week's hero's rating.

Share this:
Read More arrow_forward

tile-707888-1920jpg

Cashbuild acquires Pepkor's building company for just over R1b

4 August 2020 7:39 PM

'We still believe in the future of the economy' - CEO Werner de Jager explains why Cashbuild is taking on debt to clinch the deal.

Share this:
Read More arrow_forward

Serveusprotest_1352

Impact of divestment will be dire - we need govt action to restore trust in SA

4 August 2020 6:49 PM

'You have to wonder, where is leadership in our society now?' Bruce Whitfield interviews the CDE's Ann Bernstein.

Share this:
Read More arrow_forward

matshela-koko-ewn-picjpg

Former Eskom exec Matshela Koko dismisses SIU moves as 'bad publicity stunt'

4 August 2020 5:09 PM

Former Eskom Group CEO Matshela Koko has scoffed at plans by Eskom and the Special Investigating Unit (SIU) to recoup almost R4 billion diverted illegally from the power utility.

Share this:
Read More arrow_forward

Surgical mask sanitiser gym fitness dumbell 123rf 123rfbusiness 123rflifestyle

Gyms employ 29 000 South Africans. They’re taking to the streets in desperation

4 August 2020 3:26 PM

"We have a 29-page set of world-class safety protocols. We want to get back!" pleads FitSA spokesperson Grant Austin.

Share this:
Read More arrow_forward

More from Opinion

Red wine white woman female funny reaction 123rf 123rflifestyle

Alcohol industry 'optimistic' that sales prohibition will soon be lifted

5 August 2020 1:15 PM

"If allowed to trade, we can’t be on the edge of our seats every time that the President is about to speak," pleads Kurt Moore.

Share this:
Read More arrow_forward

I love Zimbabwe 123rf 123rfAfrica

Zimbabwean lives matter! Yet, deafening silence from regional superpower SA

5 August 2020 9:37 AM

Zimbabweans are mobilising against the state’s brutal attacks, but seek regional solidarity, says Amnesty International SA.

Share this:
Read More arrow_forward

nike-adpng

[WATCH] Why Nike's new tv advert is 'absolutely extraordinary'

4 August 2020 8:09 PM

Nike's hit the mark, again, with its latest tv ad campaign. Branding expert Andy Rice awards it this week's hero's rating.

Share this:
Read More arrow_forward

Broke young man empty wallet no money finances 123rfpersonalfinance 123rf

'Electricity price hike of 10% to 15% coming – whether Nersa appeals or not'

4 August 2020 9:06 AM

Eskom debt servicing costs are "running wild", says Tygue Theron. Increased taxes or tariffs – either way, you and I will pay.

Share this:
Read More arrow_forward

Ferrari

I collect cars. I’m a big Aston Martin and Ferrari guy - Vusi Thembekwayo

3 August 2020 8:06 PM

Bruce Whitfield interviews Vusi Thembekwayo about his attitude to money (hopes and fears, successes and failures, etc.).

Share this:
Read More arrow_forward

gay-couple-parents-baby-interracial-relationship-family-adoption-surrogacy-123rf

How to gain a sense of purpose and spark 'outrageous achievement'

3 August 2020 7:36 PM

"When your thoughts are centred around the meaning of your life, you unleash immeasurable power,” says author Richard Wright.

Share this:
Read More arrow_forward

TikTok 123rf 123rfbusiness 123rfworld 123rflifestyle

Microsoft wants to buy TikTok. Donald Trump gives it 45 days to negotiate

3 August 2020 7:23 PM

[EXPLAINED] The Money Show’s Bruce Whitfield interviews Craig Wilson, Editor at Stuff Magazine.

Share this:
Read More arrow_forward

Nigeria flag nigerian 123rf 123rfAfrica 123rfBusiness

Shoprite pulls the plug on Nigeria (pop 206m) – trouble for SA companies abroad?

3 August 2020 6:34 PM

Shoprite is exiting the oil-rich but spending-money-poor nation. Bruce Whitfield interviews Dianna Games (Africa At Work).

Share this:
Read More arrow_forward

Candle Eskom 123rf 123rfbusiness 123rflifestyle

Eskom wants its stolen money back – from Koko, Molefe, Singh, etc and the Guptas

3 August 2020 6:27 PM

The process to recover the looted billions has begun. Bruce Whitfield talks to Steven Powell, Director in Forensics at ENS Africa.

Share this:
Read More arrow_forward

old-mutual-logopng

Making sense of Old Mutual's suspension from Zimbabwe Stock Exchange

28 July 2020 8:43 PM

The Zim govt has scapegoated Old Mutual because its currency has "fallen through the floor", says Africa At Work's Dianna Games.

Share this:
Read More arrow_forward

More from Politics

Red wine white woman female funny reaction 123rf 123rflifestyle

Alcohol industry 'optimistic' that sales prohibition will soon be lifted

5 August 2020 1:15 PM

"If allowed to trade, we can’t be on the edge of our seats every time that the President is about to speak," pleads Kurt Moore.

Share this:
Read More arrow_forward

Alcohol gender-based violence gbv 123rf 123rflifestyle domestic abuse

How to change boys' perception of what it means to be 'a real man'

5 August 2020 9:52 AM

Refilwe speaks to professors Malose Langa and Kopano Ratele about masculinity and raising upstanding men.

Share this:
Read More arrow_forward

200804 Zweli Mkhize

[WATCH] Minister Mkhize Covid-19 update 'we're not out of the woods yet'

5 August 2020 7:21 AM

On Wednesday morning Health Minister Zweli Mkhize delivered an update on the Covid-19 pandemic in South Africa.

Share this:
Read More arrow_forward

Serveusprotest_1352

Impact of divestment will be dire - we need govt action to restore trust in SA

4 August 2020 6:49 PM

'You have to wonder, where is leadership in our society now?' Bruce Whitfield interviews the CDE's Ann Bernstein.

Share this:
Read More arrow_forward

matshela-koko-ewn-picjpg

Former Eskom exec Matshela Koko dismisses SIU moves as 'bad publicity stunt'

4 August 2020 5:09 PM

Former Eskom Group CEO Matshela Koko has scoffed at plans by Eskom and the Special Investigating Unit (SIU) to recoup almost R4 billion diverted illegally from the power utility.

Share this:
Read More arrow_forward

Surgical mask sanitiser gym fitness dumbell 123rf 123rfbusiness 123rflifestyle

Gyms employ 29 000 South Africans. They’re taking to the streets in desperation

4 August 2020 3:26 PM

"We have a 29-page set of world-class safety protocols. We want to get back!" pleads FitSA spokesperson Grant Austin.

Share this:
Read More arrow_forward

200727citygif

City of Cape Town's Malusi Booi: Political agenda behind land invasion protests

4 August 2020 1:32 PM

Human Settlements Mayco Member Malusi Booi national government and SAPS are not assisting the City in resolving the issues.

Share this:
Read More arrow_forward

eskom-logojfif

'Eskom is under no illusion that we will recover this R4 billion' - Mantshantsha

4 August 2020 11:54 AM

Eskom's spokesperson Sikonathi Mantshantsha says a 140-page document with all the evidence has been submitted to the High Court.

Share this:
Read More arrow_forward

Candle Eskom 123rf 123rfbusiness 123rflifestyle

Eskom wants its stolen money back – from Koko, Molefe, Singh, etc and the Guptas

3 August 2020 6:27 PM

The process to recover the looted billions has begun. Bruce Whitfield talks to Steven Powell, Director in Forensics at ENS Africa.

Share this:
Read More arrow_forward

Zimbabwe flag 123rf

Zim govt 'clamps down on dissent' after Covid corruption exposés spark protests

3 August 2020 5:13 PM

Zimbabwe is making international headlines as authorities arrest citizens for protesting against alleged corruption by the government.

Share this:
Read More arrow_forward