Former VBS bosses fight to keep their loot

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Former VBS bosses fight to keep their loot

The judge erred in holding former VBS COO liable for the amount of R1.5bn, argues the exec’s lawyer

Journalist

Two former VBS executives have lodged applications to appeal sequestration orders handed down against them by the High Court in Pretoria in August.

CEO of Vele Investments and former VBS COO Robert Madzonga and former VBS Mutual Bank CEO Andile Ramavhunga last week lodged their applications to appeal.

Madzonga is said to have benefited in excess of R30m through a vast network of companies and fronts. He was named in the report, The Great Bank Heist, released in 2018 by advocate Terry Motau...

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