CEO, Dr Dan Matjila has denied receiving R5 million cash from VBS in return for facilitating funding for the now defunct mutual bank.
Advocate Terry Motau was the main author of the investigation, commissioned by the Prudential Authority of theMotau said that he could not make any “definitive finding” whether the R5 million was paid to Matjila. Despite the PIC having seconded employees, Paul Magula and Ernest Nesane, as board members to VBS, Vele Investment became a major shareholder without the PIC’s knowledge.
Matjila denies discussing or agreeing to an origination fee to be paid to Kholofelo Maponya of Matome Maponya Investments in the SA Homeloans transaction.
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