The Daily Maverick has released a follow-up report detailing an investigation by its investigative journalism unit, Scorpio, finding that EFF leader Julius Malema and his deputy Floyd Shivambu knowingly and directly benefited from the “looting” of VBS Bank.
While the Mail & Guardian has previously linked Malema directly to the VBS scandal through his cousin, Daily Maverick has taken this one step further, verifying these claims through their investigation.
At a press conference on the VBS scandal, Malema demanded further documentary evidence from investigative journalist Pauli Van Wyk of payments that flowed from Shivambu’s brother Brian to Floyd and the EFF. Brian received more than R16 million in gratuitous payments from VBS, as detailed in advocate Terry Motau’s The Great Bank Heist report.
According to Daily Maverick, the EFF received more than R1.8 million from VBS, with the funds flowing from two sources acting as fronts. In addition to this, Malema allegedly received R430,000 in three instalments, which he is believed to have spent on a luxury Sandown property where he lived from 2012, but which has now reportedly been transferred to the EFF.
Van Wyk also described Brian Shivambu’s press statement in which he claimed to have only received money from Vele Investments, not VBS, as “a crude lie”.
The EFF were approached for comment, with answers from Malema and EFF spokesperson Mbuyiseni Nglozi denying knowledge of any link between VBS Bank and their party.
The EFF leader was asked by Van Wyk what action he would take “now that I have conclusively proven that you and the EFF received the proceeds of crime”.
“You have not proven anything except to show that you are obsessed with the EFF and its leadership.
Continue your fishing expeditions. Good luck,” was Malema’s answer.
Ndlozi, meanwhile, denied that Daily Maverick or Scorpio had enough proof, saying “our answer provided during the press conference still stands”.
When asked if he and EFF’s leadership were aware of the R430,000 allegedly channelled into Malema’s property, Ndlozi answered cryptically: “It is not true, at least not for EFF purposes.”
According to Scorpio, Brian Shivambu and Malema’s cousin Matsobane Phaleng were the two major fronts enabling EFF to receive money from VBS.
Be sure to read the full detailed report here.