Liquidators struggle to locate 'missing assets'
Former chairman of VBS Mutual Bank Tshifhiwa Matodzi is adamant he did nothing wrong in the collapse of the bank. /Mduduzi NdzingiFormer VBS and Vele Investments chairperson Tshifhiwa Matodzi is allegedly hiding his Ferrari super-sports car as liquidators close in on his assets, including his mansion worth R7m.
Sunday World can reveal that Matodzi's mansion in the glitzy Eagle Canyon golf estate in Honeydew, west of Joburg, was seized and was set to go under the hammer on Tuesday after his estate was declared insolvent by the Master of the High Court. "We are not going to take anything less than R3m. The actual value of the house could be between R6.5m and R7m," she said.
"We only started with the Eagle Canyon's property because it was vacant. Matodzi vacated it after he heard that we were coming for it. We are also investigating other properties and assets owned by Mr Matodzi, which we also intend to seize and auction," he said. The liquidators said they were planning to have a meeting with Matodzi's lawyers to discuss the missing snazzy vehicle and other potential properties that could be identified to increase the money to be recovered.
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