Did the EFF get cash in the VBS Mutual Bank scandal?

Did the EFF benefit directly from the VBS Mutual Bank scandal?

The red berets have not responded to questions on whether the party or deputy president Floyd Shivambu had benefited from the bank heist‚ BusinessLIVE reported on Thursday.

But a report by the Daily Maverick suggested on Thursday that the party had allegedly received R1.3m.

The report‚ citing three unnamed sources‚ alleged that Floyd Shivambu’s younger brother Brian had funnelled R10m through a company called Sgameka Projects into Floyd’s personal bank account.

Evidence of the payments was contained in bank statements being kept under “lockdown”. The report said that these statements were not included in a damning report into VBS‚ commissioned by the Reserve Bank and released on Wednesday‚ because the investigators’ mandate related specifically to VBS. No further details about the alleged money trail were revealed.

Floyd Shivambu‚ EFF leader Julius Malema and the party were not directly implicated in the report commissioned by the Reserve Bank.

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