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'Brian Shivambu signs secret contract – promises to pay back R4.55m in VBS loot'

7 June 2021 6:53 PM
Tags:
EFF
Julius Malema
Floyd Shivambu
The Money Show
Bruce Whitfield
VBS Mutual Bank
Daily Maverick
Scorpio
Pauli van Wyk
investigative journalism
Brian Shivambu

The Money Show’s Bruce Whitfield interviews Pauli Van Wyk, an investigative journalist with Scorpio at Daily Maverick.
  • Brian Shivambu has agreed to pay back R4.55 million of VBS Mutual Bank money he received

  • He signed a secret contract – after years of denials – in which he promises to pay back the money


VBS Mutual Bank in Thohoyandou. Picture: Sethembiso Zulu/EWN

Brian Shivambu (brother of EFF Deputy President Floyd Shivambu) has admitted to receiving R4.55 million in VBS Mutual Bank loot for no legitimate reason, wrote investigative journalist with Scorpio at Daily Maverick Pauli van Wyk on Monday.

Shivambu signed a secret contract in which he promises to pay back the money, said Van Wyk.

His acknowledgement follows years of denials.

VBS investigators found Shivambu “gratuitously” received R16.1 million.

Shivambu was the “veneer of legitimacy for his brother Floyd, the Economic Freedom Fighters (EFF) and its leader, Julius Malema”, according to Van Wyk.

The Money Show’s Bruce Whitfield interviewed Van Wyk (scroll up to listen).


RELATED: Floyd Shivambu’s brother quietly pays back R4.55m, admits he received the VBS money gratuitously - Daily Maverick


… there were no underlying reasons for receiving the money…

Pauli van Wyk, investigative journalist - Daily Maverick

… the beneficiaries were Julius Malema and Floyd Shivambu’s front companies…

Pauli van Wyk, investigative journalist - Daily Maverick

Neither the Shivambu’s nor Malema… have been charged… 15 people have been arrested so far… The Hawks and prosecuting authorities should do their work…

Pauli van Wyk, investigative journalist - Daily Maverick

They are trying to ignore questions… They banned us…

Pauli van Wyk, investigative journalist - Daily Maverick

This article first appeared on CapeTalk : 'Brian Shivambu signs secret contract – promises to pay back R4.55m in VBS loot'




7 June 2021 6:53 PM
Tags:
EFF
Julius Malema
Floyd Shivambu
The Money Show
Bruce Whitfield
VBS Mutual Bank
Daily Maverick
Scorpio
Pauli van Wyk
investigative journalism
Brian Shivambu

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