R10 Million Siphoned From VBS To Floyd Shivambu’s Personal Account

EFF Floyd Shivambu (R) and Mbuyiseni Ndlozi at the rules committee debate, parliament, Cape Town. PICTURE:Trevor Samson/ Business Day

JOHANNESBURG: Van Wyk says EFF leader, Julius Malema and Floyd Shivambu have, in recent months, spoken of an imminent media attack against the party.

Senior ANC officials, along with members of the EFF are among those being fingered in the scandal relating to more than R1 billion being siphoned out of VBS Mutual Bank.

Speaking to a Johannesburg based talk radio, Daily Maverick investigative journalist, Pauli van Wyk, “what they could see is that money moved from the bank to the EFF account, around 1.3 million, and then from the R16 million that moved from Brian Shivambu’s account, it was funnelled to a company that he is the sole director of.”

“Then around 10 million was moved to Floyd Shivambu’s personal bank account,” said van Wyk. 

So could the apparent involvement of senior members of the EFF reveal the true motive for the party’s previous defensive of VBS and calls to save the financial institution?

Van Wyk says EFF leader, Julius Malema and Floyd Shivambu have, in recent months, spoken of an imminent media attack against the party.

“It’s now very clear they pre-empted what would happen,” she added.