New information has emerged claiming Economic Freedom Fighters (EFF) deputy president Floyd Shivambu used his influence with VBS Mutual Bank’s management to secure a home loan for his parents’ house.
The Daily Maverick‘s investigative unit Scorpio is reporting that along with the R16 million in illicit payments, VBS also approved a R1.46 million home loan which is registered to the slush fund Shivambu’s brother Brian operated.
The EFF has exonerated Shivambu from any wrongdoing in the VBS Mutual Bank scandal that involves his brother.
Scorpio is reporting that leaked emails show Shivambu had private discussions with VBS managers to influence them to approve a home loan to buy a house for his parents in Witpoortjie on the West Rand.
Despite not qualifying, VBS granted a loan to a company run by Shivambu’s brother Brian, which is on top of the illicit R16 million he received in an apparent fronting scheme on behalf of EFF leader Julius Malema, his deputy and the party itself.
Scorpio says there’s no evidence to suggest that the parents were aware of how this home loan was approved. The couple moved in October 2017 and moved out just a month ago.
Scorpio also says that Shivambu has dismissed these allegations while his brother says he received a loan and that he is paying for it.
Shivambu has been unavailable for comment on Monday.