Shivambu brothers on VBS report: Brian seeks review, Floyd denies getting R10m

2018-10-13 16:50
Brian Shivambu with his brother Floyd. (Image remix: Twitter/Gallo)

Brian Shivambu with his brother Floyd. (Image remix: Twitter/Gallo)

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Brian Shivambu is the latest party implicated in an explosive forensic report into the collapse of VBS Mutual Bank seeking to have it reviewed.

According to a damning report titled The Great Bank Heist compiled by Advocate Terry Motau and law firm Werksmans attorneys, Shivambu – owner of Sgameka projects – received R16m from VBS.

He has since denied this, claiming to have not received a cent from the bank and threatened to go after those who defamed him.

His attorney Victor Nkhwashu told News24 he had received instruction from his client to study the report and advice him on the way forward.

"He has asked us to peruse and analyse the report and advice him on the legal steps that are available at his disposal which he intends to take," said Nkhwashu, adding that the primary instruction is to take the report on review.

The development comes on the back of former audit firm KPMG partner Sipho Malaba's attorney confirming that he had been instructed to approach the courts to nullify the damning report. Malaba is alleged to have received more than R33m from VBS.

Denied claims

Daily Maverick also reported that the younger Shivambu gave his brother Floyd, who is the EFF's deputy president, R10m while R1.3m was given to the red berets.

Floyd has since denied the claims in a statement released on Saturday morning.

"I have never received R10m from VBS or anyone in my personal account."

Shivambu made no mention of his younger brother who was implicated in the report, and instead laid blame for the media reports on "weapons of mass deception" and "propaganda machines" for misleading people with "fake news".

The EFF has said it will address the VBS matter next week during a media briefing.

Read the letter from Brian Shivambu's attorney:



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Read more on:    eff  |  vbs mutual bank  |  brian shivambu

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