Floyd Shivambu denies getting R10m from VBS

2018-10-13 10:36
Floyd Shivambu (Amanda Khoza, News24)

Floyd Shivambu (Amanda Khoza, News24)

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EFF Deputy President Floyd Shivambu has denied receiving R10m from embattled VBS Mutual Bank in his first direct response to the allegations against him and his brother Brian.

"For the record, I have never received R10 million from VBS or anyone in my personal account," said a statement sent by Economic Freedom Fighters' spokesperson Mbuyiseni Ndlozi on Shivambu's behalf on Saturday.

"Faceless sources reportedly to be from [the] South African Reserve Bank (SARB), who have ulterior motives, have been misleading journalists and radio presenters with their malicious narrative.

"I have no dealings with VBS and any attempt to link the EFF to the bank for cheap political points is a clear sign of desperation and soon enough people will see through it. The so-called well-placed sources in the SARB is a coward and a liar who misled journalists and can't even reveal their identity.

"I have no dealings with VBS and attempts to link the EFF position to business dealings are disingenuous and patently weak," said Shivambu.

This followed a report on Friday that the Fighters' deputy allegedly also benefited from the alleged fraudulent funnelling of money from the bank.

READ: EFF deputy president Floyd Shivambu allegedly involved in another scandal – report

On Friday the Mail & Guardian reported that it had seen screenshots of text messages believed to be a conversation between Floyd and a businessman that suggest a direct link between the EFF deputy president and his brother Brian Shivambu's business.

In those messages, Floyd provides Brian's business account details to controversial PIC beneficiary Lawrence Mulaudzi. 

Mulaudzi is currently being investigated for a R300 000 request for payment to an alleged lover of PIC boss Dan Matjila.

The same account number provided by Floyd, registered in the name of Grand Azania, has been allegedly linked to the suspicious VBS Mutual Bank payments.

He said blamed "weapons of mass deception" and "propaganda machines" for misleading people with "fake news". 

This is how the EFF wants the outcry over Advocate Terry Motau's report "Great Bank Heist" handled: 

- VBS must not be liquidated, but recapitalised as African Bank was;

- Everybody associated with wrong doing must be held accountable adn those who benefited from fraud criminally prosecuted immediately; 

- If believes the SA Reserve Bank (SARB) placed undue faith in auditors despite warnings about the complicity of auditors in corruption, and failed to verify the bank's capital capacity;

- The curator must protect the interests of depositors and SARB must manage the bank's curatorship fairly and with transparency; 

- An independent commission of inquiry should be set up to examine the role of Treasury, the SARB and VBS in the bank's collapse;

- The EFF still questions why Nedbank took over VBS depositors' accounts since Nedbank has fewer branches and is apparently expensive;

- It said attempts to link the EFF's position on National Treasury deputy director Ismail Momoniat regarding VBS was "disingenuous and wrong". 

Shivambu said at a committee meeting in Parliament in June that it was concerned that Treasury's director general was not African, and said it looked like there were deliberate attempts to undermine African leadership at Treasury.

READ: Word for word: Read what Shivambu said about Momoniat on Tuesday

Shivambu said: "We still maintain that Momoniat undermines African leadership in National Treasury."

"We are aware that in the course of struggle, we will encounter challenges and defaming such as this. We are not diverted and will fight on with even greater inspiration for economic freedom in our lifetime. No surrender! No retreat!"

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Read more on:    eff  |  vbs mutual bank  |  floyd ­shivambu  |  corruption

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