The estranged wife of Vele Investment CEO Robert Madzonga has denied knowledge of the alleged looting of almost R2bn at the VBS Mutual Bank. In an interview with Bongani Bingwa on Radio 702, Khosi Madzonga said she was not involved in her husband's businesses, this despite her well-documented lavish life. “I never received money from VBS … I never received money from Robert, I worked for my money that’s why I was unable to track what Robert was doing,” she said. "I’m not a part of this money, I don’t have this money, I don’t own this money,” she said.<doc-sep>Citizen reporter The former Mrs SA contestant says the VBS bank scandal has ruined her life. The Star has reported that Khosi Madzonga now publicly accuses her estranged husband Robert Madzonga of a hidden stash of millions from the bankrupted VBS Mutual Bank. Madzonga was the CEO of Vele Investments and has been described as one of the masterminds of the bank’s looting. Vele was VBS’s largest shareholder. Khosi told the paper that she left Robert last year in November, allegedly due to his behaviour towards her changing in the wake of the scandal. She reportedly accused him of being emotionally abusive. She mentioned an amount of R50 million hidden “with a colleague” in a lawyer’s account and further alleged that her husband became secretive about finances, trusting his 25-year-old daughter with money instead of her. She complained that the scandal had cost her her marriage and modelling career. Madzonga refused to comment on his wife’s revelations and said the law would “take its course”. Last year, Khosi Madzonga merely said “f**k you” when asked about photos of her showing off on social media with flashy cars, a boat and even a helicopter that was purchased from money looted from the bank. She also promised that the journalist writing about her would be raped repeatedly. She was at the time particularly incensed by a suggestion in this article that she came from a poor background, even though she had been describing herself as such in interviews she gave in her attempt to be crowned Mrs South Africa. ALSO READ: VBS Bank’s spending spree beauty queen Madzonga says ‘f**k u’ Robert Madzonga and others have been accused of misusing hundreds of millions in VBS depositors’ funds to go on spending sprees, splurging on, among other things, a helicopter for the Venda king, luxury homes, and designer clothes and sports cars through a series of vehicle finance deals, mortgage bonds and complex intercompany loans between VBS, Vele Investments and its subsidiaries. On her personal Facebook account, Khosi at the time described Robert as “her everything”. Brand South Africa later dropped Khosi Madzonga as an ambassador and she said she has subsequently struggled to work as a model. She told The Star that she had not been party to any plundering of VBS. “There’s no VBS money that was ever hidden in my account. Not even one transaction from VBS can be traced to my account,” she claimed. (Compiled by Charles Cilliers) For more news your way, download The Citizen’s app for iOS and Android.<doc-sep>Khosi Madzonga, the wife of Vele Investments CEO Robert Madzonga, spoke to Talk Radio 702 about the VBS scandal. CAPE TOWN - The estranged wife of Vele Investments CEO Robert Madzonga says she had no part in the VBS scandal and wants to clear her name. Khosi Madzonga explains how she first found out about the VBS scandal. “I was busy with my own things. I was never the wife who followed every detail. I never followed his business details.” Last year, the South African Reserve Bank released a report which revealed how R1.8 billion was looted from the bank. Madzonga also claims her husband is hiding more money. "I'm not part of this money. I don't have this money. I don't own this money." Listen to the audio for more.<doc-sep>
The estranged wife of Vele Investments CEO Robert Madzonga, who reportedly scored more than R30m from VBS Mutual Bank, has come forward to clear her name. “I never received money from VBS. I never received money from Robert. I worked for my money, that’s why I was never able to track what Robert was doing,” beauty queen Khosi Madzonga said in an interview with Radio 702 on Friday morning. When asked by host Bongani Bingwa if she bought herself a Lamborghini, she said: “It’s not mine. Why am I not with it where I’m staying? I don’t have a Lamborghini. I have the same car I had before I got married.” The Sunday Times reported in October 2018 that Robert was one of the people named in Advocate Terry Motau’s “The Great Bank Heist” report on VBS Mutual Bank. The report was commissioned by the South African Reserve Bank and found, over the past three years, that more than 50 people benefited from “gratuitous” payouts totalling nearly R2bn from the Limpopo-based bank. It said Robert received more than R30m via a vast network of companies and fronts. He was also a pastor and owns a mansion worth R8.5m in Blue Hills, north of Johannesburg, and a home in Plettenberg Bay. His cars included a Brabus-tuned Mercedes-Benz G63 which sells for R2.5m, a Lamborghini and a Rolls-Royce Phantom. Khosi flaunted these cars on social media. She said Robert owned fancy cars when they first met about a decade ago. “I am not this person that kind of follows my husband. ‘What did you do today? How much money did you make today?’ I was busy with my own things… I never knew his business life in details,” Khosi said. “I don’t care about the flashy life. I don’t care. That doesn’t define me.”