Floyd Shivambu scored R10m from VBS scheme – report

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Financial Freedom Fighters (EFF) deputy leader Floyd Shivambu benefitted individually from VBS Mutual Bank, Day-to-day Maverick reported on Thursday.

In response to the publication, he got roughly R10m through an organization the place his brother, Brian, is the only real director.

The EFF, the occasion of which Floyd is deputy president and the place Brian reputedly worked, scooped R1.3m basically based entirely totally on three sources Day-to-day Maverick spoke to.

The forensic report into the looting and collapse of VBS – which was launched on Wednesday – fingered Brian as with out a doubt seemingly the most predominant beneficiaries in what suggest Terry Motau, who led the investigation into VBS, calls “the massive bank heist”.

Around R2bn was misplaced. Brian got greater than R16m.

Elias Shivambu, from Malamulele in Limpopo, confirmed to News24 that Floyd and Brian are his sons, but acknowledged he was not attentive to the thousands and thousands Brian got.

The Hawks and the National Prosecuting Authority (NPA) additionally confirmed to News24 that a crew of 16 investigators and prosecutors are investigating the topic.

The EFF on Wednesday evening launched an announcement pronouncing any person learned to be fascinated regarding the fraud and theft wishes to be prosecuted.

The occasion has not acknowledged anything regarding the Shivambu brothers’ involvement. It has, alternatively, scheduled a press conference for subsequent week.

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