Charles Cilliers
5 minute read
4 Jul 2018
8:54 am

VBS Bank’s spending spree beauty queen Madzonga says ‘f**k u’

Charles Cilliers

A young woman married to the businessman at the centre of the VBS Bank scandal doesn't like being asked questions about her lavish life.

Khosi Madzonga with a Lamborghini. Picture: Facebook

Khosi Madzonga, the young woman who is married to one of the central figures in the VBS Bank scandal, has responded to questions about her allegedly showing off on social media with photos of flashy cars, a boat and even a helicopter that may have been purchased from money looted from the bank.

Her most striking reaction was, simply, “f**k u”. She also threatened this journalist with promises of repeated rape and made numerous racial references, including saying “your f**ken white puss” in two languages.

The Facebook account from which she was writing has been confirmed to belong to her.

Picture: Facebook Messenger screenshot

“[You will] get f**ked over and over you gay white bitch. You will see what poor girls do to people like you,” she also wrote.

Picture: Facebook Messenger screenshot

Madzonga appeared to have been most incensed by a suggestion in last week’s article that she came from a poor background, even though she has been describing herself as such in interviews she has given in her attempt to be crowned Mrs South Africa later this year.

Madzonga is married to Vele Investments CEO Robert Madzonga, whose company is the troubled VBS Mutual Bank’s largest shareholder.

He and others have been accused of misusing hundreds of millions in depositors’ funds to go on spending sprees, splurging on, among other things, a helicopter for the Venda king, luxury homes, and designer clothes and sports cars, allegedly all through a series of vehicle finance deals, mortgage bonds and complex intercompany loans between VBS, Vele Investments and its subsidiaries.

On her personal Facebook account, Khosi Madzonga describes Robert Madzonga as “her everything”.

A post in which Khosi Madzonga describes Robery Madzonga as “my everything”. Picture: Facebook

Khosi Madzonga with Robert Madzonga. Picture: Facebook

Below are some of the images of the Madzongas’ lavish life, which she uploaded before the financial scandal made front-page headlines.

When asked if she would be requesting her husband to perform the supposed punitive rape against this journalist, she responded: “You are too old and finished for him.”

Khosi Madzonga with Robert Madzonga.

She also uses the name “Khosi Khoza” on Facebook.

Her full name is Abegail Makhosi Madzonga and she is currently a 2018 Mrs South Africa semifinalist. She describes herself as a Brand South Africa Ambassador sponsored by Satiskin and the founder of www.cynderellascloset.co.za.

Her business website was, however, not functioning on Thursday.

Screenshot: Khosi Madzonga/Facebook

She appears as a Miss Earth finalist in earlier photos.

We were also sent the following photograph of her with a helicopter, which may be the Bell aircraft referred to in reports, and which was allegedly bought for the king, though he disputes that now.

Khosi Madzonga with a helicopter.

Khosi Madzonga with a bling SUV. Picture: Facebook

Khosi Madzonga with a Lamborghini. Picture: Facebook

Most of her photos see her living a glamorous life. An article about her published in the Greytown Gazette earlier this year revealed that she went to school in Greytown, is married with a now 16-month-old young daughter and three stepchildren, and lives with her family in Johannesburg.

She told the Gazette: “I want to be the helping hand that I myself did not have as a child.”

Readers were urged in April to help Mrs Madzonga raise at least R20,000 for charity as part of her Mrs South Africa bid.

In another article in the Fourways Review, it was revealed that she had been in a relationship with her husband for nearly a decade, though she claimed they’d only been married for “two years”.

Screenshot: Fourways Review/Facebook

According to Mrs Madzonga’s Facebook account, she only married her husband on 27 September last year. At no point does she openly state that her husband is Robert Madzonga.

About R1.5 billion in taxpayer money deposited into VBS by at least 14 municipalities is still said to be at stake in various provinces. The Public Investment Corporation, which manages the Government Employees Pension Fund (GEPF) and is one of the bank’s largest shareholders, also stands to lose millions. About R900 million is said to still be totally unaccounted for.

In March, Reserve Bank governor Lesetja Kganyago placed the bank under curatorship, citing its liquidity issues. Last year, Treasury put a stop to municipal deposits into VBS because of legislation that dictates municipalities may only make deposits with full commercial financial institutions, not a mutual bank such as VBS. This led to its liquidity crisis.

The bank became a household name after it granted then president Jacob Zuma a loan for the R7.8 million he owed on repaying improperly government-funded upgrades made to his private Nkandla residence.

Khosi Madzonga

Khosi Madzonga

The Citizen will attempt to contact Brand SA and Mrs South Africa for further comment and their reaction.

ALSO READ: PICS: Are these the photos showing off the VBS Bank loot?

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