DA lays corruption charges against VBS50 to seek justice for victims of this heist

11 October 2018

Today, the DA laid criminal charges against the 50 people who allegedly siphoned billions from VBS Mutual Bank.

On Wednesday, the South African Reserve Bank (SARB) released a damning forensic report titled “VBS Mutual Bank - The Great Bank Heist” and recommended that criminal charges be brought against those who have been implicated.

The report identified various individuals with close ties to political parties who no doubt used their political influence to ransack and defraud the bank.

The DA is of the view that politicians and those close to politicians, such as Floyd and Brian Shivambu, and the ANC Limpopo Treasurer, Danny Msiza, should not only be investigated for their personal involvement but that the parties they are associated with publicly confirm whether or not they have received funds from VBS.

Today, the EFF Chairperson, Dali Mpofu, claimed that the EFF received no money from VBS through Brian Shivambu.

The EFF is increasingly being exposed for its role in corruption, and in working with the ANC in recent weeks as part of a coalition of corruption.

The VBS scandal has had irreparable consequences on the countless poor South Africans who are still struggling to gain access to their life-savings.

The effects of the scandal will also be felt by the numerous municipalities which are now at risk of losing billions in revenue.

Whilst the EFF defended the VBS corruption and with the ANC’s long track record of stealing from the poor – the DA is the only party who have taken action to defend those who have been victims of the VBS corruption.

Issued by Kevin Mileham, DA Shadow Minister of Cooperative Governance and Traditional Affairs, 11 October 2018