#VBSHeist: DA lays criminal charges against EFF leadership over R1.8m ‘received’ from VBS 

22 November 2018

The Democratic Alliance (DA) has today laid criminal charges against the EFF’s Julius Malema, Floyd Shivambu and the party itself, following allegations that the party, through corrupt means, received R1.8 million from VBS Mutual Bank.

Reports indicate that monies syphoned from the bank were allegedly funneled through companies owned by Shivambu’s brother, Brian, and Malema’s cousin, Matsobane Phaleng.

Evidence of the EFF’s involvement in the looting is now mounting by the day. It is clear that the party, which claims to be on the side of people oppressed by poverty, has been deeply involved in stealing from the very people they claim to represent.

Not only did the EFF, as a party, allegedly receive funds from VBS, but their members, and immediate family, appear to have benefited from this looting too. Brian Shivambu, brother of the EFF’s Floyd Shivambu, is said to have received R16 million from the bank “without an apparent cause” and it was further alleged in media reports that evidence existed of Floyd receiving R10 million of that money.

The looting of VBS has affected many individual investors, stokvels, burial societies and some of South Africa’s poorest municipalities. Numerous vulnerable clients have potentially lost their life savings. It is appalling that the EFF would shamelessly steal from people oppressed by poverty – a constituency it claims to represent.

The EFF’s implication in the looting of VBS is a clear indication that the apple does not fall far from the tree – their only concern is that of lining their own pockets and enriching their henchmen. They are a true doppelganger of the ANC.

The VBS heist was not victimless – it was made at the expense of people oppressed by poverty. The victims of the EFF and failing ANC’s corruption will likely never see their money again and the provision of services in some of South Africa’s poorest municipalities are now at risk.

The DA trusts that the South African Police Services will investigate these allegations and bring the EFF to book. As well as the SACP and ANC who have also been implicated in this nefarious scheme designed to steal from people oppressed by poverty.

The DA will continue to fight to ensure that the EFF and ANC's "Coalition of Corruption" are held accountable for their involvement in the looting of VBS Bank. The DA urges citizens to choose the party that will fight corruption, instead of voting for parties which endorse it.

Issued by Kevin Mileham, DA Shadow Minister of Cooperative Governance and Traditional Affairs, 22 November 2018