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'It’s pure insanity, it’s madness' - Floyd Shivambu denies receiving R10 million

EFF deputy president Floyd Shivambu
EFF deputy president Floyd Shivambu
Image: Thulani Mbele

There is no evidence on the financial statements that deputy president of the EFF Floyd Shivambu received any money from VBS Mutual Bank.

Speaking at the party’s headquarters in Braamfontein on Tuesday, EFF leader Julius Malema said he had the opportunity to go through Shivambu’s bank statement.

“[Floyd] brought his financial statements and we looked at the financial statements and we cannot locate any money from the VBS Mutual Bank. We can not locate any money Sgameka, [but] there are exchanges of money from him, to Brian, from Brian to him,” said Malema.

His remarks follow reports that Floyd allegedly received R10 million from his brother Brian or from the controversial VBS Mutual Bank.

Last week, a forensic report done by investigators appointed by the South African Reserve Bank titled “The Great Bank Heist” found that about 50 people received R1.894 billion from the Bank over a three-year period starting from March 2015.

Without disclosing the amount, Malema said as the top leadership of the party, they only saw transactions between Floyd, his two brothers Lucky, Brian and other family members.

“The deputy president statement, demonstrates such types of transactions family as back as 2014 and we are satisfied,” added Malema.

Responding to questions about his alleged involvement with the VBS Mutual Bank, Floyd also reiterated that he didn’t receive money from the financial institution or his brother.

“We never took money from VBS, any body who thinks that is mad. The bank that I Bank with would’ve called me in if I received R10 million. I have never been called to explain R10 million that I received,” said Floyd.

He accused the reports of him allegedly receiving money as a pure smear campaign.

“There has never been R10 million that has come into my account. It’s all part of propaganda machinery, it’s pure insanity, it’s madness,” added Floyd.

Floyd’s brother, Brian, has also denied receiving money from VBS Mutual Bank through his company Sgameka Projects.

Malema also reiterated that the party had not received R1.3 million of the funds while Floyd received R10 million.

But on Friday, the Mail and Guardian reported that it had screenshots of texts messages believed to be a conversation between Floyd and businessman that suggests a direct link between the EFF deputy president and his brother Brian’s business.

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