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VBS bank ‘heist’: Can Floyd Shivambu face corruption charges?

If Brian Shivambu did unlawfully receive funds from the VBS bank and then gave some to Floyd, the older sibling might find himself facing corruption charges.

The EFF's Floyd Shivambu attended proceedings at the Constitutional Court in Johannesburg for the Nkandla matter on 09 February 2016. Picture: EWN

PRETORIA - While Brian Shivambu has confirmed in a statement that he supported his brother Floyd, there's been no confirmation as to whether Floyd, in fact, received R10 million and whether he knew it was from the VBS Mutual Bank.

The Reserve Bank released Advocate Terry Motau's report on Wednesday which implicated 53 people and companies in fraud and corruption worth nearly R2 billion.

Brian allegedly received about R16 million, but he has denied there was anything untoward.

If Brian did unlawfully receive funds from the VBS bank and then gave some to his brother Floyd, the older sibling might find himself facing corruption charges in terms of the Prevention and Combatting of Corrupt Activities Act.

Advocate and former criminal law professor James Grant says the courts would be seized with a crucial question.

“The question will ultimately be what Mr [Floyd] Shivambu thought when he was given R10 million by his brother and if the court could be convinced that he must’ve foreseen that the money had some mysterious source or basis to it, then he may well have crossed the line.”

The Economic Freedom Fighters is scheduled to respond to the report on Tuesday.

(Edited by Winnie Theletsane)

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