Brian Shivambu faces losing his company car due to non-payment

Brian Shivambu faces losing his company car due to non-payment

- Just after Brian Shivambu was implicated in the VBS looting, he now faces losing a company car due to non-payment

- Nedbank has summoned Shivambu to appear in court for the non-payment

- Brian was accused of receiving R16m from Vele Investments, a major shareholder in the bank

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Brian Shivambu is on the bring of losing a Toyota Corolla due to non-payment.

Shivambu, the brother of the EFF's deputy president, Floyd Shivambu, has been implicated in the VBS Mutual Bank scandal.

It's alleged Shivambu was paid R16m. He alleges it was for consultancy work done for Vele Investments, a main shareholder of the collapsed bank.

Brian Shivambu faces losing his company car due to non-payment

Brian Shivambu faces losing his company car due to non-payment. Nedbank took the controversial businessman to court for failing to pay his installments.

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It's believed the vehicle is owned by Brian's company, Mabyeni Trading and Projects.

The Sowetan reported that Nedbank's Motor Finance Corporation division summoned the 30-year-old businessman and his company to appear before the South Gauteng High Court for allegedly not paying the R4 580.50 monthly instalments on the 2016 Toyota Corolla Quest.

Adv Terry Motau listed Brian as one of the 53 people and companies that received nearly R2 billion in payments from VBS.

Meanwhile, Economic Freedom Fighters (EFF) deputy commander-in-chief (CIC), Floyd Shivambu, revealed that his brother was willing to pay back the money he was paid by VBS Mutual Bank.

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

Brian and Floyd Shivambu have become the faces most associated with the R1.89 billion VBS looting saga which has gripped the nation for a week. The report into the collapse of the bank alleges that Brian received gratuitous payments totalling about R16 million from the bank and shared R10 million with his politically connected brother.

The Parliament's Joint Committee on Ethics and Members' Interests has also 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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Source: Briefly.co.za

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