'Brian Shivambu signs secret contract – promises to pay back R4.55m in VBS loot'
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
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'
Source : Sethembiso Zulu/EWN
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