VBS Bank’s R16m to Shivambu’s brother

Great Bank Heist report names EFF deputy president Floyd’s brother Brian as a ‘beneficiary’.

The Great Bank Heist report into looting of VBS Bank, 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 53 persons of interest, both natural and juristic, from March 1 2015, to June 17 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.

While the involvement of Shivambu’s brother does not implicate the EFF second-in-command, the party has in recent months made headlines with its vehement defence of the bank.

It claims the bank is the victim of a racist conspiracy..

“The EFF is aware that VBS is being victimised due to a loan it gave to Jacob Zuma for a house in Nkandla,” the party said in a statement in March.

“Had it been a white-owned bank that had offered Zuma a loan, they would not be subject to victimisation today,” it claimed.

Around the same time, party leader Julius Malema called for a picket at the South African Reserve Bank over what he called an attack on the bank.

“We can’t have the black-owned bank attacked,” he said, adding he believed it to be the only bank willing to give mortgages to black people in rural areas.”

The Citizen was unsuccessful in attempts to contact EFF spokesperson Mbuyiseni Ndlozi and Shivambu yesterday.