Former Wife of ex VBS Boss Robert Madzonga Unable to Pay Rates on R25m Mansion
- The former wife of VBS officer Robert Madzonga has defaulted on the payment of municipal rates on a mansion valued at R25 million
- Media reports suggest that Thando Madzonga has been left by the father of her children, Robert, to pay the bills owed to the City of Joburg on her own
- The ex-VBS boss is now said to have become a pastor while his former wife faces billing by the City of Joburg for their expensive mansion
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Ex VBSCEO Robert Madzonga has reportedly left his former partner struggling to make ends and she cannot afford to pay municipal rates on a mansion in Johannesburg.
Madzonga is said to have parted ways with the mother of his children, Thando, leaving with an unbonded mansion to the value of R25 million.
Sunday World reports that the property is located at an exclusive Waterfall Equestrian Estate in Gauteng and the couple secured the property through the Mzadonga Family Trust 11 years ago.
It is reported that the house is situated on a 10 000 square metre plot of land and it's unclear when the property was paid off but Madzonga appeared to have left it to his wife as part of a settlement when they divorced a few years ago.
Moreover, the weekend publication has it that it’s unclear whether Madzonga, who is now a priest, is still a trustee of the trust.
Source: Instagram
However, the court papers suggest that the estate is the registered owner of the stand on which the Madzonga’s property was built.
News of the luxury property surfaced when Waterfall Equestrian Estate director Ibrahim Mia applied for an eviction order to kick out Thando after failing to pay the property rates and taxes to the City of Joburg.
The curator said Thando and Madzonga, using the trust, had acquired leasehold to acquire rights in respect of the property and built a family home on the massive stand.
He said the lease agreement was notarially registered on December 14, 2010 and Madzonga’s wife took occupation and became liable to pay the municipal accounts imposed by the city. According to Sunday World, it was stated:
“In the fullness of time, Mr and Mrs Madzonga caused a palatial home to be built on the property. The property is valued at R25.5 million.
“This appears from the valuations on the City of Joburg’s account. As there is no mortgage bond registered against the leasehold right, the property is unencumbered."
Mia also said the trust and Madzonga, who have been paying the City of Joburg charges in the region of R18 000 a month, were now R620 000 in arrears after defaulting on payment for several years.
The Citizen reported that Madzonga’s wife had accused her estranged husband 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.
The website had it that the former wife made it clear that she left Robert in 2018, allegedly due to his behaviour towards her changing in the wake of the scandal.
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She reportedly accused him of being emotionally abusive. The former wife also 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.
Briefly News reported that almost two years after over R2 billion was stolen from VBS Mutual Bank, numerous officials, including board members and the chief KPMG auditor, have either been arrested or will soon be taken into custody.
News24 reported that the Hawks and a team from the National Prosecuting Service recently carried out an intense early morning operation.
This raid included search-and-seizure operations at the homes of those arrested. Believed to be among those arrested is Tshifhiwa Matodzi.
Matodzi is the former VBS and Vele Investments chairperson and believed to be the ringleader of the theft from the bank.
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Source: Briefly News
