- The Scorpio investigation team has alleged that Floyd Shivambu had used his influence to help his brother's company acquire a home loan, despite failing to qualify
- VBS Mutual Bank had allegedly rejected the loan but talks between Shivambu and chair Tshifhiwa Matodzi had smoothed things over
- The R1.46 million home loan had been used to buy a home for Shivambu’s parents and had been registered under Brian Shivambu’s company
New allegations have surfaced that the Economic Freedom Fighter deputy president Floyd Shivambu used ‘influence’ within the management of the infamous VBS Bank to secure a home loan.
According to The Daily Maverick’s Scorpio, their investigative unit, VBS gave Brian Shivambu’s company Sgameka Trading R1.46 million after Floyd, his brother, had private talks with Tshifhiwa Matodzi who had been chair at the bank.
These allegations follow ‘leaked emails’ that the investigative team have come across.
The home loan had been given despite the fact that Sgameka Trading did not qualify for the amount applied for. But according to the allegations, Shivambu had smoothed things over in order to obtain the loan, used to buy a home for his parents.
Brian Shivambu confirmed that he had applied for the loan. “I was given the loan and I am paying for it.”
Shivambu’s parents had moved into the home in October last year and had lived there for a year. The Joburg home had been registered to Sgameka Trading as an asset, and if the allegations are true, had effectively been paid for by the countries poor and vulnerable.
Floyd Shivambu has responded to the findings of the investigation by saying that fraudulent activities are dealt with by the criminal justice system and not by ‘some imaginations of a lousy journalist’.
Shivambu went on to discredit the narrative and described it as ‘pure drivel driven by narrow obsession’. He went on to demand proof that he had been involved in the VBS scandal.
The party’s leader, Julius Malema, denied the EFF’S involvement in the looting going on to say that they had found no evidence implicating Floyd Shivambu in any wrongdoing.
This had been in October this year when TimesLIVE had reported that a forensic report showed signs of Brian Shivambu receiving R16 million from VBS in the large-scale looting that had taken place
Julius Malema had chalked the allegations linking the Shivambu brothers up to the efforts of the media to ‘discredit’ the EFF. Malema had called on law enforcement to act against those mentioned in Advocate Terry Motau’s report.
According to the EFF leader, Shivambu had shown his bank statements to party leaders and as a result, the EFF would not be taking disciplinary steps against him.
“Everyone is blaming the EFF as if we are the ones who took R2bn of VBS [money]. We are asking‚ where was the Reserve Bank? The Reserve Bank is the police of banks‚ so why have the face of Brian Shivambu as the face of VBS looting?” Malema said.
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