Shivambu’s brother allegedly pocketed R16m from VBS Bank
The alleged involvement of Brian Shivambu has led to questions surrounding the EFF's shows of support for VBS Bank.
Floyd Shivambu, Julius Malema and Godrich Gardee. Picture: Twitter/EFF
A report called The Great Bank Heist looking into the alleged looting of VBS Bank and compiled by advocate Terry Motau assisted by Werksmans Attorneys, has implicated EFF deputy president Floyd Shivambu’s brother Brian as one of more than 50 people who “gratuitously” received money from VBS Bank.
“It emerges from the forensic accountants’ report that the amount of R1,894,923,674 was gratuitously received from VBS by some 53 persons of interest, both natural and juristic, over the period 1 March 2015 to 17 June 2018,” Motau writes.
He then lists the alleged recipients, with Shivambu’s brother on the list as having allegedly benefited from a sum of more than R16 million.
READ MORE: ‘The Great Bank Heist’ report reveals wide-scale looting at VBS – report
While the involvement of Shivambu’s brother in this matter does not in any way automatically implicated the EFF second-in-command himself, the revelation has led to questions surrounding the party’s defences of VBS Bank.