Sat. Jul 20th, 2019

EFF: Malema, Shivambu respond to damning new VBS theft allegations

Julius Malema EFF VBSA shocking new report has tied Julius Malema and Floyd Shivambu to the alleged theft of R4m from VBS Bank. The EFF’s top dogs have since come out fighting.

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Both Julius Malema and Floyd Shivambu have gone down the cryptic route on Tuesday, in response to the latest VBS looting allegations levelled at the pair. The bank collapsed in October 2018, after nearly R3 billion of its funds were looted by corrupt beneficiaries linked to the EFF.

The extensive research – carried out by veteran journalist Pauli van Wyk for the Daily Maverick – has revealed that the party syphoned more than R4 million of the crippled institution’s reserves to pay for excesses such as party venues, t-shirts and office rentals in Johannesburg.

New VBS scandal rocks EFF

According to the report, Floyd Shivambu’s brother Brian owns a company called Sgameka Projects: Their main beneficiaries include the EFF, Floyd’s Grand Azania company, and Mahuna Investments – an account in Juju’s name. Brian is believed to have received R16.1 million from the looting of VBS, and it seems he’s been sharing the illicit wealth.

The report is particularly damning for Julius Malema, whose home rental in Sandton has also come into question. Concerns have been raised over the ownership details, as the name on the property changed from Malema’s to “Economic Freedom Fighters” in 2017 – around the same time they supposedly acquired dodgy funds from VBS.

Julius Malema, Floyd Shivambu react to “looting” claims

Of course, you wouldn’t expect Juju to take this one quietly: He’s already fired up his Twitter account this morning, taking a pot-shot at the Cruising Nicely article and threatening that EFF fighters will now “Go for the kill”, in a post which leaves a lot open to interpretation:

Meanwhile, Floyd Shivambu went for an analogy that takes some getting used to. Reptiles beware, there’s a war going on…

EFF vs the media

The allegations are almost certain to reignite tensions between the EFF and the South African media. In the past six months, Julius Malema has had high-profile spats with Tiso Blackstar, Jacques Pauw and Karima Brown, the latter of which has ended up in court. The fallout from this scoop could also end up having some serious legal ramifications.

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