How the EFF allegedly looted VBS revealed
The EFF’s repeated denials that it was party to the looting of the VBS Mutual Bank and its oft-stated claim to be a corruption fighter, have been brought into question in a startling Scorpio report on the Daily Maverick site.
In Pauli van Wyk’s report on a detailed forensic investigation of EFF’s financial matters, she says cash robbed from VBS Mutual Bank funded the EFF’s fourth birthday bash held at a popular party venue in uMlazi, Durban, in July 2017. This, says the report, forms part of a chunk of the illegal R16.1m Brian Shivambu’s company, Sgameka Projects, received from VBS that was ultimately channelled to the EFF.
So far, claims Van Wyk, Scorpio has isolated about R4.13m in VBS loot paid towards the EFF. The report says that in a scheme designed to mask the origin and ultimate beneficiaries of the funds, VBS money flowed through companies over which Julius Malema and Floyd Shivambu have ultimate control.
‘No VBS money has flowed into our coffers’, EFF president Julius Malema pledged on 18 April, during an interview with Eusebius McKaiser on 702 Talk Radio.
Malema’s denial came three weeks before the elections. In fact, says Van Wyk, VBS money funded the EFF’s fourth birthday bash, paid for printing of T-shirts, transport and what was described as ‘Jhb Office Rental’. The source of these VBS funds was obscured when two proxy companies for Malema and Shivambu were used to effect the payments.
Malema invited journalists to scrutinise the EFF’s financials during the same interview with McKaiser, but didn't allow this to happen. Van Wyk says Scorpio took him up on the offer, but its request was deferred to after the 8 May elections. A follow-up request to view the EFF financials after elections was ignored. When Scorpio sent its findings and a list of questions to the EFF leadership, including the EFF’s treasurer-general Leigh-Ann Mathys, only Malema replied, saying: ‘I won’t be answering any questions from this moloi; she can write anything she wants to write. I’ve responded to all her questions before and won’t be doing it going forward. She extraordinarily personal (sic) and I’m not answerable to white madam. She can go to the nearest hell.’
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