VBS scandal: DA challenges EFF's Shivambu to undergo lifestyle audit

The DA is expected to request Parliament's Joint Committee on Ethics and Members' Interests to investigate EFF chief whip Floyd Shivambu for payments allegedly received from VBS Mutual Bank.

This follows last week's revelations of large-scale looting at VBS, which were contained in a report titled "The great bank heist". The report, compiled by advocate Terry Motau and Werksmans Attorneys, was released on Wednesday.

In the report, Shivambu's brother Brian Shivambu was identified as one of 27 alleged to have received money from the bank in a "looting scheme" involving R1.8bn. Brian Shivambu is said to have received R16m.

Then, on Thursday, Daily Maverick reported that of that R16m, about R10m found its way to Floyd Shivambu, and R1.33m to the EFF.

News24 reported on Friday that Shivambu hadn't declared anything in Parliament's Register of Members' Interests since he became an MP in 2014.


On Monday, DA spokesperson Phumzile van Damme said that, if Shivambu indeed received payments from VBS, they were in contravention of the Members' Code of Conduct because there was no indication that he declared the money in the 2015-2017 Declaration of Members' Interests and Payments in Parliament.

"Clause 4.1.3 of the Code of Conduct clearly stipulates that members must 'act in accordance with the public trust placed in them' and clause 5.1.1 states that members must 'resolve any financial or business conflict of interest', including declaring such interests," Van Damme said in a statement.

Brian Shivambu issued a statement in which he denied having "any working relationship with VBS Mutual Bank" and said he has "never received any payment from VBS Mutual Bank".

On Saturday, brother Floyd also issued a statement denying that he received R10m in his personal account.

Van Damme noted that Shivambu called the allegations "weapons of mass deception and propaganda machines".

"The DA, therefore, challenges Shivambu to also undergo a lifestyle audit. Surely, if he has nothing to hide, he will be transparent and do the right thing," she said.

"The EFF has, on numerous occasions, claimed to be fighting on behalf of poor and vulnerable South Africans, yet the looting of VBS Mutual Bank has led to the suffering of many vulnerable South Africans."

Van Damme said the scandal will possibly have serious consequences for the 15 municipalities which deposited R1.5bn with the bank because they are now at risk of losing billions in revenue.

The EFF will address the media on Tuesday, where matters relating to VBS are expected to feature prominently.

On Sunday, DA leader Mmusi Maimane said the party's lawyers were considering having charges laid against President Cyril Ramaphosa in accordance with the Prevention of Organised Crime Act (POCA), following reports that he had prior knowledge of widespread looting at VBS Mutual Bank but allegedly failed to act.

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