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VBS Bank ‘heist’: F4SD calls for arrest, prosecution of Shivambu brothers

Forum 4 Service Delivery says Floyd Shivambu and his brother Brian should be arrested and prosecuted. It says it would like to see all parties implicated in the bank looting brought to justice.

FILE: EFF deputy president Floyd Shivambu. Picture: EWN

PRETORIA - A group calling itself the Forum 4 Service Delivery (F4SD) has added its voice to the growing calls for action to be taken against those implicated in the VBS Mutual Bank scandal.

The South African Reserve Bank released Advocate Terry Motau’s report on Wednesday, which revealed royalty, politicians, accountants and politically connected businessmen are among those who unlawfully benefitted from the looting of the Limpopo-based bank.

While the Democratic Alliance (DA) has lodged complaints against those implicated, the Economic Freedom Fighters (EFF) says it will respond to the report and allegations levelled against its deputy president Floyd Shivambu on Tuesday.

The EFF’s silence on the alleged involvement of its deputy president in the looting of VBS Bank has led to growing speculation, with neither confirmation or denials coming from the red berets, who are usually vocal when their political opponents face similar allegations.

Now, a group calling itself the Forum 4 Service Delivery says Shivambu and his younger sibling Brian should be arrested and prosecuted. The group says it would like to see all implicated parties being brought to justice.

The investigation report identified the younger Shivambu as having received about R16 million from VBS Bank, a claim he has denied.

He claims he was paid for services by the bank’s majority shareholder, Vele Investments.

He further claims that he supported his older brother but would not clarify reports that he gave Floyd Shivambu about R10 million.

(Edited by Zamangwane Shange)

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