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EFF dismisses DA criminal complaint over VBS Bank looting as 'foolish'

DA officials on Thursday opened a case against EFF leader Julius Malema, his deputy Floyd Shivambu and the party itself for allegedly benefitting financially from the VBS Mutual Bank scandal.

Floyd Shivambu addresses EFF members outside the venue of the state capture inquiry on 19 November 2018. Picture: Abigail Javier/EWN

CAPE TOWN – The Economic Freedom Fighters (EFF) has dismissed the Democratic Alliance (DA)'s criminal complaint against it as "opportunistic" and "foolish".

DA officials on Thursday opened a case against EFF leader Julius Malema, his deputy Floyd Shivambu and the party itself for allegedly benefitting financially from the VBS Mutual Bank scandal.

A Reserve Bank commissioned report, titled 'The Great Bank Heist', last month detailed how R1.8 billion was looted from the bank.

The DA's criminal complaint follows a Daily Maverick report that outlines how money was allegedly transferred to companies owned by Malema's cousin Matsobane Phaleng and the brother of Shivambu.

But Shivambu emphasises that nowhere in the report or in the investigation are they being singled out for wrongdoing.

“They’re in a fishing expedition and they’re going to be humiliated if there is going to be any action taken by whoever is responsible for this matter. They’re being foolish and opportunistic.”

DA Shadow Minister of Cooperative Governance and Traditional Affairs, Kevin Mileham says everyone involved in the looting at the bank should be held accountable.

“Evidence of the EFF looting VBS is there day-by-day and it’s clear that the party which claims to be on the side of the poor, marginalised and vulnerable, has been deeply involved in stealing from the very same people it claims to represent.”

(Edited by Leeto M Khoza)