Khosi Madzonga with her husband VBS executive Robert Madzonga. Photo: Instagram
Khosi Madzonga with her husband VBS executive Robert Madzonga. Photo: Instagram

EXCLUSIVE: Madzonga is hiding VBS millions, claims wife

By Bongani Nkosi Time of article published Feb 22, 2019

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Johannesburg - Stunning revelations have emerged that sequestrated VBS Bank executive Robert Madzonga is allegedly hiding millions of rand from authorities.

Madzonga’s estranged wife Khosi, who left the matrimonial home in November last year, made the allegations in an exclusive interview with The Star.

She told how the bank heist scandal had turned her life upside down, largely because of how Madzonga allegedly changed towards her when the scandal deepened.

“He was emotionally abusive. He’d come home and not eat for 30 days. The helper and I were living in fear because we always had to check how angry he was,” said Khosi.

Khosi revealed that she recently confronted Madzonga about large amounts of money that he was allegedly hiding from the government.

“He hid R50 million with one of his colleagues in his lawyer’s account. He recently bought a beach house in Ballito, Durban,” added Khosi.

“He created a new trust before sequestration took place and hid properties there.

"I’m not a trustee and you call me a wife?"

The major issue which led to Khosi moving out and renting a flat of her own was how Madzonga allegedly kept the family's finances from her - especially after the looting of the bank came to light.

Khosi said her husband had cut her out in favour of his 25-year-old daughter from a previous relationship.

“Would you put money in your daughter’s account and let her do everything but yet call me a wife?” asked an angry Khosi.

“He changed immediately after this VBS issue. All of a sudden he removed everything.

"Everything is now being done by the daughter. That’s why I left.

“I’m the wife and I don’t know about his money. Monies are kept by my stepdaughter.”

Khosi said she was speaking out because the scandal unfairly took a lot from her.

It had wrecked all facets of her life, from her happy marriage to her modelling career.

“I wish I never knew VBS; maybe I’d still be happily married.

"I wish VBS never existed in our lives because we were happier before my husband started working for this bank,” she lamented.

Madzonga, a former acting chief operations officer of VBS Bank, told The Star that he would not comment on many of the issues because they were private.

He would also not be drawn on allegations that he shifted R50m and bought a posh property in KwaZulu-Natal.

“I won’t comment on those hearsays. The law is taking its course. If there’s any legitimacy to that, the law will take its course,” he added.

Madzonga was also the former chief executive of Vele Investments, VBS’s largest shareholder.

He was accused of being the kingpin of the VBS Bank heist and of pocketing R30m of depositors' money before the bank's subsequent collapse.

He has, however, in the past denied not being part of the bank when the irregularities took place.

The internet is awash with several stories describing Khosi as a “slay queen” who lived a lavish lifestyle with stolen money. An internet search of her name shows her posing with posh cars.

But she insisted this was unfair. “I never stole any money,” she said. “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 said.

“I’d be quiet like many others who have the bank’s money. I wouldn’t break my silence if I have the money. Maybe I’d take a holiday and shut up.”

She was forced to pull out of the Mrs South Africa pageant last year when media reports linked her to the looting. She said her mentor had advised her to leave because her participation would taint the competition.

Khosi was also dropped by Brand South Africa as an ambassador over the looting. “Right now I can’t go for auditions. I can’t do things because people think I stole money. “My name is written off because of the company that Robert worked for. “I had my own dreams and goals and I want them back. I’ll not allow VBS to take me down. I’ve not done anything.”

Madzonga said he had nothing to say about Khosi’s allegations.

“I don’t know what she’s talking about. When I married her she was not a model. I only read in newspapers about her in Mrs SA. I don’t know about her being a model,” he said. 


The Star

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