R6.6 billion
Total financial exposure
Convicted in November 2024 for fraud, theft, racketeering, and money laundering in connection with the looting of VBS Mutual Bank. Sentenced to an effective 15 years imprisonment.
Mastermind of the VBS Mutual Bank looting. Controlled VBS through Vele Investments (majority shareholder). Orchestrated the municipal deposit campaign, creation of fictitious credits, and distribution of R2.3B in looted funds. Personally received R325.9M. Pleaded guilty to 33 counts in July 2024, sentenced to 495 years (effective 15 years concurrent). Currently incarcerated.
Pain points connected to Tshifhiwa Matodzi's documented incidents
Chairman
VBS Mutual Bank
2015-01 – 2018-03(appointed)
Controlling Shareholder
Vele Investments (Pty) Ltd
2014-01 – 2018-03(appointed)
Chairman of the Board
VBS Mutual Bank
2014-01 – 2018-03(appointed)
Worked under Matodzi's direction as VBS CEO. Managed day-to-day bank operations during the looting period.
CEO of VBS who managed day-to-day operations under Matodzi's direction as chairman and controlling shareholder.
Msiza was the political fixer who pressured Limpopo municipalities to deposit with VBS. Key partnership between VBS leadership and ANC Limpopo political machinery.
Received ~R17.8M in gratuitous payments from VBS. His support gave VBS credibility in the Venda community.
Msiza was the political fixer who pressured Limpopo municipalities to deposit with VBS. Key partnership between VBS leadership and ANC Limpopo political machinery.
Complicit in creating fictitious deposits and falsifying financial records under Matodzi's scheme.
Received ~R17.8M in gratuitous payments from VBS. His support gave VBS credibility in the Venda community.
Received ~R17.8M in gratuitous payments from VBS. His support gave VBS credibility in the Venda community.
Beneficiary of VBS money channelled through Vele Investments and Sgameka Projects. Matodzi phone records referenced political payments.
Msiza was the political fixer who pressured Limpopo municipalities to deposit with VBS. Key partnership between VBS leadership and ANC Limpopo political machinery.
Signed off on false VBS financial statements that concealed the looting. Allegedly received R34M in payments from VBS.
VBS money channelled through Vele Investments to Sgameka Projects (Brian Shivambu). WhatsApp messages on Matodzi's phone referenced payments to political figures.
Beneficiary of VBS money channelled through Vele Investments and Sgameka Projects. Matodzi phone records referenced political payments.
Complicit in creating fictitious deposits and falsifying financial records under Matodzi's scheme.
Worked under Matodzi's direction as VBS CEO. Managed day-to-day bank operations during the looting period.
VBS money channelled through Vele Investments to Sgameka Projects (Brian Shivambu). WhatsApp messages on Matodzi's phone referenced payments to political figures.
VBS money channelled through Vele Investments to Sgameka Projects (Brian Shivambu). WhatsApp messages on Matodzi's phone referenced payments to political figures.
CEO of VBS who managed day-to-day operations under Matodzi's direction as chairman and controlling shareholder.
Worked under Matodzi's direction as VBS CEO. Managed day-to-day bank operations during the looting period.
Worked under Matodzi's direction as VBS CEO. Managed day-to-day bank operations during the looting period.
Key political fixer who pressured Limpopo municipalities to deposit with VBS. Acted as middleman between municipalities and VBS.
Chairman and mastermind of the VBS looting scheme.
Msiza was the political fixer who pressured Limpopo municipalities to deposit with VBS. Key partnership between VBS leadership and ANC Limpopo political machinery.
Key political fixer who pressured Limpopo municipalities to deposit with VBS. Acted as middleman between municipalities and VBS.
CEO of VBS who managed day-to-day operations under Matodzi's direction as chairman and controlling shareholder.
CEO of VBS who managed day-to-day operations under Matodzi's direction as chairman and controlling shareholder.
Beneficiary of VBS money channelled through Vele Investments and Sgameka Projects. Matodzi phone records referenced political payments.
Key political fixer who pressured Limpopo municipalities to deposit with VBS. Acted as middleman between municipalities and VBS.
Received ~R17.8M in gratuitous payments from VBS. His support gave VBS credibility in the Venda community.
Signed off on false VBS financial statements that concealed the looting. Allegedly received R34M in payments from VBS.
Chairman and mastermind of the VBS looting scheme.
Complicit in creating fictitious deposits and falsifying financial records under Matodzi's scheme.
Worked under Matodzi's direction as VBS CEO. Managed day-to-day bank operations during the looting period.
Signed off on false VBS financial statements that concealed the looting. Allegedly received R34M in payments from VBS.
VBS money channelled through Vele Investments to Sgameka Projects (Brian Shivambu). WhatsApp messages on Matodzi's phone referenced payments to political figures.
Beneficiary of VBS money channelled through Vele Investments and Sgameka Projects. Matodzi phone records referenced political payments.
Complicit in creating fictitious deposits and falsifying financial records under Matodzi's scheme.
VBS money channelled through Vele Investments to Sgameka Projects (Brian Shivambu). WhatsApp messages on Matodzi's phone referenced payments to political figures.
Complicit in creating fictitious deposits and falsifying financial records under Matodzi's scheme.
Beneficiary of VBS money channelled through Vele Investments and Sgameka Projects. Matodzi phone records referenced political payments.
CEO of VBS who managed day-to-day operations under Matodzi's direction as chairman and controlling shareholder.
Key political fixer who pressured Limpopo municipalities to deposit with VBS. Acted as middleman between municipalities and VBS.
Signed off on false VBS financial statements that concealed the looting. Allegedly received R34M in payments from VBS.
Chairman and mastermind of the VBS looting scheme.
Signed off on false VBS financial statements that concealed the looting. Allegedly received R34M in payments from VBS.
Msiza was the political fixer who pressured Limpopo municipalities to deposit with VBS. Key partnership between VBS leadership and ANC Limpopo political machinery.
Key political fixer who pressured Limpopo municipalities to deposit with VBS. Acted as middleman between municipalities and VBS.
Received ~R17.8M in gratuitous payments from VBS. His support gave VBS credibility in the Venda community.