Malema won’t suspend Floyd Shivambu over VBS Bank scandal

Floyd’s involvement in the VBS scandal came to light after the Daily Maverick reported on Thursday that his brother, Brian Shivambu, allegedly received R16m from VBS – R10m of which allegedly went to him, while the EFF received R1.3m.


EFF leader Julius Malema will not suspend party deputy leader Floyd Shivambu over the VBS Mutual Bank looting scandal, he said.

Malema first tweeted that the “enemy is attacking” referring to media reports implicating Floyd’s brother Brian in the Great Bank Heist.

“We won’t do it‚” Malema said on Twitter replying to a question on whether he will suspend Floyd, “you can forget about that‚” he said.

On Friday, the Mail & Guardian reported that it had seen screenshots of text messages believed to be a conversation between Floyd and a businessman, suggesting a direct link between the EFF deputy leader and his brother Brian Shivambu’s business.

In those messages, Floyd provides Brian’s business account details to PIC beneficiary Lawrence Mulaudzi.

Mulaudzi is currently being investigated for a R300 000 request for payment to an alleged lover of PIC boss Dan Matjila.

On Thursday‚ Brian Shivambu‚ Floyd’s brother‚ threatened to sue the South African Reserve Bank over the VBS Mutual Bank “heist” report.



“I intended to legally pursue the owners of the VBS report for defamation of my character and that of my company‚ as well as for the strain this report has caused to my family‚” he said.

“I am aware that my brother’s name has been raised in relation to this matter. I am a private businessman and I do not intend to involve myself or my family in political debates‚” he added.

The EFF said in a statement on Wednesday that “all who are responsible and illegally benefited from the fraud must be criminally prosecuted immediately” and “blacklisted”.

(edited by MLM)

Send tip-offs to [email protected]