Mpofu admits VBS funded EFF
Former EFF chairperson, Advocate Dali Mpofu SC, has conceded that his party had received a ‘donation’ from the now collapsed VBS bank that left scores of poor people defrauded in 2018.
This despite the party initially denying receiving any funds from the VBS bank in the scandal that has implicated EFF leader Julius Malema and his deputy Floyd Shivambu.
As previously reported, the bank’s former chairperson Tshifhiwa Matodzi was handed a 15-year jail term by the Gauteng High Court (Pretoria) after he penned an explosive affidavit implicating politicians, political parties and business people – as a plea bargain.
The Star reports that Matodzi pleaded guilty to 33 counts which include corruption, theft, fraud, money laundering, and a pattern of racketeering activities in contravention of the Prevention of Organised Crime Act.
Burial societies, stokvels, individuals –particularly the elderly – and municipalities lost about R2.3bn of their investments in the bank after the brazen looting of the funds by its management and politicians.
In his affidavit, Matodzi implicated the EFF, including the ANC and the SACP, while confirming Advocate Terry Motau’s ‘Great Bank Heist’ report that blew the lid off the scandal.
The Star notes that Mpofu told Newsroom Afrika that his party had indeed received a donation from the bank and was willing to pay it back if there was evidence of wrongdoing.
‘There has never been denial that the EFF had received funds from VBS …We must separate what is called a donation which is what happens to political parties. There is no political party that does not receive donations,’ said Mpofu.
He denied that there was any wrongdoing in the transaction, saying those who had proof that corruption was involved had to bring up the evidence.
‘What is being said here is corruption. But I ask where is corruption? Where is the fraud? And where is the money laundering?’ Mpofu asked.
Mpofu said Matodzi’s affidavit shed more light on the scandal because it was clear that it was a donation to the EFF after the party was critical of the R7m loan to former President Jacob Zuma for his Nkandla homestead’s refurbishments.
A lump sum of R5m followed by R1m monthly ‘donations’ was the price, he claimed.
TimesLIVE reports that this was allegedly funnelled through a company owned by Brian Shivambu, Floyd’s brother.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
