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DA reports Floyd Shivambu to ethics committee over alleged link to VBS scandal

The DA says the red berets have always claimed to be fighting for the poor yet the looting of VBS Bank has led to the suffering of many vulnerable South Africans.

EFF chief whip Floyd Shivambu. Picture: @EFFSouthAfrica/Twitter

JOHANNESBURG - The Democratic Alliance (DA) says it has reported the Economic Freedom Fighters (EFF)'s Floyd Shivambu to Parliament's ethics committee over his alleged involvement in the VBS Mutual Bank scandal.

The South African Reserve Bank released its report last week titled The Great Bank Heist which revealed how money was looted from VBS with Shivambu's brother receiving over R16 million in gratuitous payments.

It’s since been reported that the EFF received over a million of that amount, while Floyd allegedly received R10 million from his brother Brian.

Floyd has since denied this.

The DA’s Phumzile van Dam says Floyd has to answer to the allegations.

“If he did indeed receive this R10 million, it does not reflect in the member's interest and that is a violation of the members’ Code of Ethics .”

She says the party challenges him to undergo a lifestyle audit.

The DA says the red berets have always claimed to be fighting for the poor yet the looting of VBS Bank has led to the suffering of many vulnerable South Africans.

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