Simnikiwe Hlatshaneni
Premium Journalist
3 minute read
7 Jun 2021
5:23 pm

Why did Shivambu repay VBS’ R4.5 million if there was no corruption?

Simnikiwe Hlatshaneni

Call to probe businessman after admitting that payments were gratuitous, 'since banks don't simply hand out money for nothing'.

Businessman Brian Shivambu. Picture: Facebook screenshot

Law enforcement agencies must question Economic Freedom Fighters MP Floyd Shivambu's brother over allegations he agreed to refund VBS Mutual Bank over R4.5 million which was paid to his company apparently with no basis. This follows an explosive expose by Daily Maverick detailing the alleged signing of a contract by Brian Shivambu, in which he admits to owing VBS holding company Vele Investments the amount, following the payments he now admits were gratuitous. Corruption Watch CEO David Lewis says these revelations leave more questions than answers as VBS, Vele, as well as Brian now have to explain why the money...