Floyd Shivambu

Photo: EFF / Twitter

Floyd Shivambu lashes out – as stolen VBS funds allegedly ‘traced to his account’

EFF Deputy Leader Floyd Shivambu claims he is the victim of ‘lies and defamation’, after a financial probe linked him to illicit activity.

Floyd Shivambu

Photo: EFF / Twitter

The same old allegations continue to plague Floyd Shivambu this week, as forensically analysed court papers claim that he is a beneficiary of the looting which collapsed VBS Bank. While the evidence mounts up against his businessman brother Brian, the EFF Deputy leader now finds himself on the radar of SARS.

Fresh VBS allegations rock the EFF

As revealed by the Daily Maverick and its Scorpio investigative unit, the SARS’s Criminal and Illicit Economic Activities division has traced money directly linked to the looting of VBS right through to his private FNB account.

Grand Azania and Sgameka Projects – both accused of acting as ‘fronts’ for Floyd Shivambu – made payments totalling hundreds of thousands of rand, which went towards the funding of a new Land Rover and the loan on his parents’ house. Many more transactions, according to the probe, went towards ‘supporting Floyd’s lifestyle’.

Floyd Shivambu fights back against ‘libellous claims’

As you’d expert, Floyd Shivambu is the square root of raging on Monday. He has acknowledged the findings published against him, and declared them as ‘lies and defamation’. He also stated that he will not ‘fight pigs in the mud’:

“The Rogue Unit will never cease to create fiction and distortions. They think that such will make us fearful and retreat from the war for total emancipation. The libels, lies, defamations and all nonsense will be dealt with at appropriate levels. We don’t fight pigs in the mud!”

Floyd Shivambu: Scorpio say they’ve found the smoking gun

  • The Scorpio team, meanwhile, thoroughly believe they’ve got the EFF bigwig banged to rights.

“Since the inception of the EFF, he has declared no additional income, trusts or assets to Parliament. Scorpio’s investigations into Floyd Shivambu’s riches have suggested for years now that he receives additional income that is not consistent with any legitimate reasons. We now have incontestable proof.”

“What is also incontestable, is that he displays the same spending habits in his FNB Private Wealth account as he did with the Grand Azania FNB Gold Business bank account.” | Scorpio

You can read the full investigation into VBS Bank and Floyd Shivambu here.