#VBSHeist: DA Lays Criminal Charges Against EFF Leadership over R1.8m ‘Received’ from VBS

The Democratic Alliance (DA) laid criminal charges against the EFF’s Julius Malema, Floyd Shivambu and the party itself on Thursday. This followed allegations that the EFF used corrupt means to receive R1.8 million from VBS Mutual Bank, said the DA.

“Reports indicate that monies syphoned from the bank were allegedly funnelled through companies owned by Shivambu’s brother, Brian, and Malema’s cousin, Matsobane Phaleng,” said the DA in a statement.

Kevin Mileham MP – DA Shadow Minister of Cooperative Governance and Traditional Affairs – claimed evidence of the EFF’s involvement in the looting is mounting daily.

“Not only did the EFF, as a party, allegedly receive funds from VBS, but their members, and immediate family, appear to have benefited from this looting too. Brian Shivambu, brother of the EFF’s Floyd Shivambu, is said to have received R16 million from the bank “without an apparent cause” and it was further alleged in media reports that evidence existed of Floyd receiving R10 million of that money,” said Mileham.

The looting of VBS has affected many of South Africa’s poorest people and municipalities, and some clients have potentially lost their life savings.

“The DA trusts that the South African Police Services will investigate these allegations and bring the EFF to book,” said Mileham, adding that the SACP and ANC also need to be investigated as they too have been implicated.