Julius Malema expected to address VBS scandal at press conference next week

South Africa

Julius Malema will be holding a press conference on Tuesday next week. The reason for the meeting  is not yet known, Malema is expected to confront allegations that emerged about his party on Wednesday.

No comments have been made yet by the party’s commander-in-chief has not yet commented on reports that his party received R1.3m and his second-in-command received roughly R10m from the bank.

A report commissioned by Treasury called The Great Bank Heist was released on Wednesday. Looking into the alleged looting of VBS Bank and compiled by advocate Terry Motau and assisted by Werksmans Attorneys, the report implicated the EFF deputy president Floyd Shivambu’s brother Brian as one of the more than 50 people who “gratuitously” received money from VBS Bank.

Then, the Daily Maverick released an investigative report revealing that not only had Shivambu himself received as much as R10 million of the R16 million allegedly sent to Brian, but that the party’s bank account had received R1.3 million.

While the EFF did release a statement on the report, it did not contain comment on Brian Shivambu’s implication in the VBS saga. The party also has not addressed the more recent allegations in The Daily Maverick that the party and Shivambu himself received money.

In the statement, made by the the red berets, they called for the law to take its course and that those responsible be held accountable.

“The EFF reiterates its position that all those who are responsible and illegally benefited from the fraud must be criminally prosecuted immediately. As we previously indicated, we also reiterate that they must be blacklisted. Above all, the law enforcement authorities must ensure that all the [money] that can be recovered is paid back in full, including attaching properties from the individuals who benefited,” the party said.


The Citizen

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