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DA opens case against Shivambu, EFF over allegedly benefiting in VBS looting

This follows reports in the 'Daily Maverick' that EFF leader Julius Malema, Floyd Shivambu and other senior members received over R1.8 million from the collapsed bank.

FILE: EFF deputy president Floyd Shivambu. Picture: Christa Eybers/EWN

CAPE TOWN - The Democratic Alliance (DA) has opened a criminal complaint against the Economic Freedom Fighters (EFF) and some leaders for allegedly benefiting in the VBS Mutual Bank scandal.

This follows reports in the Daily Maverick that EFF leader Julius Malema, Floyd Shivambu and other senior members received over R1.8 million from the collapsed bank.

The DA says evidence of the EFF's involvement in the looting is mounting.

The Daily Maverick is reporting how money has been funnelled from VBS Bank to companies owned by Malema's cousin Matsobane Phaleng and Brian Shivambu, the brother of the party 's deputy president.

WATCH: Malema: Shivambu did not get any money from VBS

The DA's Kevin Mileham says a case has also been opened against the party itself.

“We want to see that every single person that has been implicated in the VBS saga is held fully accountable to the full extent of the law. That they are prosecuted, those that are responsible go to jail and recover as much money as possible.”

Shivambu has denied the claims.

“Nowhere in the VBS report or in the so-called investigation are we mentioned, as the leadership of the EFF. Whoever is responsible for this is going to be humiliated if there is going to be any action taken. They are being foolish and opportunistic.”

LISTEN: Daily Maverick’s Pauli Van Wyk details how Malema benefited from VBS looting

Earlier this month, the North Gauteng High Court issued a final order to liquidate VBS Bank.

This followed a Reserve Bank commissioned probe that found widespread looting and concluded that the bank cannot be rescued.

(Edited by Mihlali Ntsabo)