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SACP denies receiving R3m from VBS Bank to keep silent on Gupta links

The SACP has denied receiving the money in exchange for remaining silent on the bank's links to the Gupta family.

VBS Mutual Bank in Thohoyandou. Picture: Sethembiso Zulu/EWN

JOHANNESBURG - The South African Communist Party (SACP) says its finance department has found no traces of a
deposit from VBS Mutual Bank or Vele Investments in its books.

The City Press is reporting that a branch manager at the embattled bank was ordered to make R 3 million payment to fund the SACP's 2017 national congress, but the party has denied this.

The SACP has also denied receiving the money in exchange for remaining silent on the bank's links to the Gupta family.

The paper is alleging that a senior executive from the bank has revealed how VBS' parent company, Vele Investments, allegedly conspired to use a subsidiary company account to conceal the link to the SACP payment.

SACP spokesperson Alex Mashilo says they have no knowledge of this.

“I have never been at VBS or Vele Investments. I don’t know their internal shenanigans, I’ve never been part of them, neither has the SACP been part of those shenanigans.”

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