The case against Floyd Shivambu - The Mail & Guardian

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The flow of money from VBS Bank would seem to suggest that the EFF’s second-in-command was an ultimate beneficiary of proceeds of a crime

In the official story, Floyd Shivambu — the second-in-command of the Economic Freedom Fighters — got R680 000 in “clean” money from his brother to buy a high-end Range Rover Sport in 2018.

The money trail shows that Brian, Floyd’s brother, had gained from the more than R1-billion heist of VBS through two of his companies — Sgameka and Grand Azania. That money included the life savings of gogos who may now never see a cent from their investments because the bank went under liquidation. The Shivambu gratuitous payments were referred to law enforcement agencies, particularly the Hawks, which also visited the dealership in its investigation of various individuals who had bought vehicles there with suspected VBS money.

 

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