Parliament confirms it will investigate Floyd Shivambu over VBS scandal

Parliament confirms it will investigate Floyd Shivambu over VBS scandal

The Parliament's Joint Committee on Ethics and Members' Interests has confirmed it will investigate Floyd Shivambu's conduct following the DA's call for a probe into his possible conflict of interests over the VBS scandal.

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Earlier this week, the DA asked Parliament to investigate Shivambu after his brother, Brian Shivambu, was linked to the collapsed bank.

According to a report by eNCA, the DA has since welcomed the speed at which Parliament acted on calls for an investigation into the EFF's deputy president.

Shivambu denied receiving R10-million from his brother, Brian. It has been alleged that Brian received R16-million from the bank. He claims it was for consultancy work done for Vele Investments. Vele Investments is the majority shareholder in VBS Mutual Bank.

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The DA said:

Meanwhile, the DA called on the Ethics Committee to conduct a hearing. The party wants it to be open to the public, citing public interest in the matter.

The opposition party said if Shivambu is found guilty of any wrong doing, the harshest sanction should be meted out against him, "on behalf of the thousands of poor people whose money was stolen in the VBS Heist."

Earlier this week, reported that Economic Freedom Fighters (EFF) deputy commander-in-chief (CIC) Floyd Shivambu said Brian was willing to pay back the money he was paid by VBS Mutual Bank.

Floyd said Brian earned the money by providing consultancy services to the now-defunct bank.

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