- The VBS Mutual Bank is accused of paying the SA Communist Party R3 million to keep quiet over the bank's link to the Guptas
- Apparently, an official of SACP demanded they be paid the money to stop making noise about the bank's relationship with the controversial family
- VBS used a subsidiary company to hide the fact that they made the payment
Another chapter has been added to the VBS Chronicles. This time it is alleged that the SA Communist Party was bribed into silence by the VBS Mutual Bank.
An ex-senior executive of the bank revealed that a payment of R3 million was made to the SACP in 2017, apparently for them to keep quiet about the bank's relationship with the Guptas.
On paper, Vele Investments - majority shareholder of VBS - used a subsidiary company to pay the money for using facilities at OR Tambo Conference Centre in Boksburg and Birchwood Hotel.
News24 reports that the subsidiary company was used to hide the VBS Bank's involvement.
This comes after the SACP has denied any involvement in the bank's looting.
The executive that spilt the beans added that a senior official of SACP demanded the R3 million from the former VBS chairperson, Tshifhiwa Matodzi, to keep quiet about the link with the Guptas.
On July 6 2017, the branch manager got a WhatsApp message from Matodzi saying that he must make a payment of R3 million for the SACP national congress. Matodzi told him that he was getting pressure from SACP leaders to have that payment done because the SACP congress was starting the following day.
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