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EFF denies receiving corrupt funds

‘There is no way the EFF got money from VBS,’ says EFF chairman Dali Mpofu.

South Africa’s radical leftist Economic Freedom Fighters (EFF) party on Thursday denied receiving corrupt funds after the brother of its deputy leader was accused in a central bank investigation of benefiting from fraud at a local bank.

A report commissioned by the central bank and published on Wednesday found at least R1.9 billion ($130 million) had been siphoned illegally from VBS, a failed local bank that bailed out former president Jacob Zuma after a corruption scandal.

Read: Probe finds R1.9bn looted from VBS Mutual Bank

One of the beneficiaries was Brian Shivambu, who received R16 million of “looted” funds from VBS, the report said. Reuters could not reach Brian Shivambu for comment.

Brian Shivambu is the younger brother of EFF Deputy President Floyd Shivambu, the party’s chairman Dali Mpofu told television station ENCA.

Mpofu denied the central bank investigation implicated anyone in the party.

“There is no way the EFF got money from VBS. That I can say categorically,” Mpofu said.

The Daily Maverick, an online news site, reported on Thursday that Floyd Shivambu and the EFF had received money from VBS via Brian Shivambu’s company, citing sources.

Floyd Shivambu did not respond to an email requesting comment.

Earlier Mpofu tweeted that allegations against Floyd Shivambu were an example of “mob justice”.

“In the ignorant Republic of The Mob you can be charged for the deeds of your relatives,” one tweet said.

The EFF, whose members wear red-berets, has won over many poorer black voters disillusioned with the ANC over its failure to deliver on the wealth and land re-distribution promised by Nelson Mandela at the end of apartheid in 1994.

The party won more than 6% of the vote at the 2014 parliamentary election, only a year after it was formed. Polls suggest the EFF could double its share of the vote at next year’s election, mainly at the expense of the ANC.

The EFF, led by expelled former ANC youth leader Julius Malema, has focused much of its energy on attacking senior ANC members for using their positions to corruptly enrich themselves and their families. 

COMMENTS   17

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You say “mob justice”? I somehow feel it is “karma”.

PAY BACK THE MONEY!…PAY BACK THE MONEY!…PAY BACK THE MONEY!…!!he, he he he!

No, the EFF did not receive money, they expropriated the assets of the bank without compensation. The EFF has a mandate from their supporters to expropriate the property of the capitalist class. People and institutions that have funds to invest at a bank, are capitalists all right. The EFF basically expropriated the property of ANC and EFF supporters. How beautiful is this? Divine justice in action.

By the way – do you know of someone that is looking for cheap second-hand red overalls? There will be an abundance on gumtree soon……

Strange how the people who preach equality, empowerment are the ones involved in corrupt practices.

I hope he declared the money in his tax return lol

What was the work done for earning 16 million rands? Follow the paper trail. Are there invoices for the work done? Were the invoices made out to VELLE or VBS ? Was VAT charged on those invoices? When was the VAT returns done? Vat must be reconciled within 60 days of invoicing. Was the earnings from the work done declared for taxation purposes? Follow the money trail from bank to bank.

you are talking about a government that can’t even maintain infrastructure. How on earth do you think they can cop such an ” abstract forensic concept “

Beautiful, excellent accounting terms, rules and tax laws but we live in a country where different rules apply to/for different people and organisations. we probably have “good laws” but some people in south africa think they themselves and their cadre is a step above the law. I was always amazed by the fact that, time and again, the excuse was the illegal payments could not be traced backwards into whose personal/company bank account it went direct or indirect – the impression is created that once bad money went through 1 bank account into another bank account, the bad money becomes “good” money and that is the end of the story,(like eff and the “donation” received indirectly from VBS) what a misconception – money is received for a reason. In VBS case – there are the +/-50 listed names who received payments for doing what?????? VBS to me was nothing more than a ponzy scheme registered as a bank institution – the depositor (mainly municipalities) provides the deposits (the rates and tax payer’s money paid to the municipality) and the VBS-baddies help themselves to it for their “services” rendered (very hard working people)- small wonder some municipalities can not pay eskom or do basic services etc – their cash deposit is locked or is it lost in a bankrupt VBS-bank. Thank heavens for somebody like Yvonne Page who refused to invest/deposit/dump R1 billion rand of prasa into a stillborn vbs-bank to keep them afloat for another ride of looting.

Just waiting for them to come out and say this was orchestrated by white monopoly capitalists

Haha, wait for it, apartheid, wmc, colonize, jan van, 1652

The EFF seems bee a chip off the old block (ANC)they both have a penchant for entitlement and greed. I wonder if there is a political party who actually put its voters needs ahead of its own upper echelon needs

Yeah,
and I can walk over water.
Got a Helicopter, too.
And a 50 foot yacht to back me up.

Oh excuse me, “in the ignorant Republic of the Mob you can be charged for the deeds of your relatives” but in the case of the alleged historic theft of property by white ancestry it is OK to hold current property owners liable for that alleged theft by alleged ancestral relatives?

Well at least we now know who was funding the EFF. Cut off the head of a beast and it will die. Hopefully this is the case here.

Tembisa, Johannesburg – Leader of the Economic Freedom Fighters, Julius Malema, addressed the nation at the launch of his party&39;s election manifesto

On corruption and crime:

“Any of us here (at the EFF) who&39;s found guilty of corruption will never lead the structures of Economic Freedom Fighters. Any of us here who&39;s charged with corruption will never use his power to avoid his day in court. All of us must subject ourselves to the rule of law.”

Postscript: Well, what I would like to see now, every time an EFF cadre dares speak in parliament, is the rest of the parliamentary fat cats beating their desks with their first and business class airplane tickets, gold-plated Mont Blanc pens, platinum expense credit cards, parliamentary privilege handbooks, etc., and scream “Pay back the Money”.

EFF chairman Adv Dali Mpofu assured that no VBS money was received by his party.

In other news he confirmed that Julius Malema, while ANCYL boss, never received stolen blessings from WMC Brett Kebble and that the R5 million jewellry Winnie M-Mandela had stolen was a gift from the Easter Bunny.

This is the style of the ANC and EFF scumcomrades, brazen it out and accuse everyone of racism. This ANC gutterment should be renamed The Big Top

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