FirstRand boss’ links to VBS
Former Vele Investment and VBS chairman Tshifhiwa Matodzi,
who is facing corruption, fraud and money-laundering charges for his role in
the collapse of VBS Bank, has links to Stellenbosch-based business tycoon
Gerrit Thomas (GT) Ferreira.
Ferreira is one of the founders of FirstRand, which owns
FNB, one of South Africa’s biggest banks.
Sunday World can today reveal that Matodzi, who was fingered
in Advocate Terry Motau’s report as the mastermind behind the mutual bank’s
R2-billion theft, and Ferreira, a wellknown investor in the financial services
sector, share both a business and a purported personal relationship.
It is a relationship that Matodzi, according to those close
to him, has boasted about, but one that Ferreira has disputed.
The two, as evidenced by several pictures that emerged this
week, have on at least one occasion spent a weekend together in Stellenbosch at
Ferreira’s farm.
The two have also reportedly shared a ride in Ferreira’s
private jet, flying to the Karoo, where the FirstRand founder has another farm.
But those close to the former Vele and VBS owner said they
were puzzled there wasn’t a single mention of Ferreira’s links to VBS in
Motau’s report despite that the Stellenbosch-based business tycoon, believed to
be worth at least $500-million, had a close interest in the affairs of the
bank.
Two sources, one Matodzi’s friend and another a former
executive of the VBS bank, confirmed that Matodzi and Ferreira were close and
had business dealings, some of which were not on paper.
Sunday World understands that Ferreira owns shares in Anglo
Africa Finance, a subsidiary of Insure Group — the same company in which Vele
later acquired a 51% shareholding for R300-million with money later found to
have been stolen from VBS.
Matodzi’s friend, who was privy to the two’s relationship,
also confirmed that Ferreira’s close relationship with the VBS chairman grew to
such an extent that he personally invited Matodzi to dinner in Stellenbosch,
where they allegedly discussed a number of business matters, including the role
Vele investments intended to play in banking.
These details were also supported by a former VBS executive,
who said that Matodzi, upon his return from the Stellenbosch meeting, told them
that Ferreira had offered to mentor him and the VBS team as they were still new
in the financial services sector.
“They became friends from there, and we never heard the last
about this friendship. Matodzi always boasted to us that he was friends with GT
Ferreira,” said the former executive.
According to the pictures seen by Sunday World, dated
October 17 2017, Ferreira and Matodzi dined and drank together in what appears
like a farm.
These pictures were also confirmed by a former executive,
who said Matodzi had told them about the trip and that he had left on a Friday
for Stellenbosch and came back on Sunday.
“He told us that immediately after he landed, he was picked
up and taken to Ferreira’s farm in Stellenbosch. Thereafter they took
Ferreira’s private jet and flew to the Karoo, to one of Ferreira’s other
farms,” said the executive.
The pictures seen by Sunday World confirm these details. In
one of them, Matodzi is seen driving a huge six-wheeler special production
Mercedes-Benz bakkie and in another, he is posing next to the same bakkie and a
blue coloured private jet.
In another picture, Matodzi and Ferreira can be seen holding
what looks like wine glasses in an apparent toast.
Ferreira confirmed that he had met with Matodzi, but he
claimed that he met him once in his office for about 30 minutes.
He denied that he had offered to be Matodzi’s mentor, saying
that it did not appear as if Matodzi needed one. He also denied he had ever
been to the Karoo with Matodzi.
“I have never been on a farm in the Karoo with Mr Matodzi,
neither did I have drinks with him and have never had photos taken with him, so
you are obviously speaking to the wrong person,” said Ferreira.
However, when he was sent the pictures, Ferreira made an
about-turn and conceded that it was indeed himself and Matodzi in one of the
pictures taken in the Karoo.
“As I have said before, I have met Mr Matodzi and yes, it is
me in the first picture, however, it is not my car, it is not my farm and it is
not me in the other pictures. I have never met with Mr Matodzi on any farm in
South Africa,” he said.
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