#UPDATE – WATCH : Money was exchanged – but Floyd did not get any from VBS bank, says Malema

South Africa

If EFF deputy president Floyd Shivambu did steal money from VBS Mutual Bank‚ he would be punished accordingly‚ Economic Freedom Fighters leader Julius Malema said on Tuesday.

He said this at a media briefing in Johannesburg: “The deputy president of the EFF Floyd Shivambu has taken the EFF leadership into his confidence in relation to the VBS media claims and we have no reason to doubt him‚ more so because he is not mentioned in the official Motau VBS report.”

Malema said the EFF had not been mentioned in the report‚ nor had it been accused of wrongdoing.

The report into the collapse of VBS Mutual by Terry Motau SC‚ which was released last week‚ mentioned that Shivambu’s brother‚ Brian Shivambu‚ had received R16-million in “gratuitous payments” from VBS‚ as part of a nearly R2-billion “looting” of the bank.

Brian Shivambu denied any wrongdoing. In a statement last week‚ he said his company‚ Sgameka Projects‚ had been appointed in 2017 to “provide professional consulting services to Vele Investments in their mining and insurance businesses” and had been paid for these services through a VBS account.

In the briefing‚ Malema said Floyd Shivambu had provided the leadership with his financial statements dating back to 2014.

“We cannot locate any money from VBS‚ we cannot locate money from Sigameka. There are exchanges of money from him to Brian and from Brian to him‚” Malema said.

Malema questioned why the EFF should take action against its deputy president if there was no evidence linking him to the theft.

“If Floyd had stolen money‚ he will be punished accordingly. We are not afraid of the deputy president.”



-Times Live


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