Brian Shivambu denies receiving money from VBS Bank

JOHANNESBURG - Floyd Shivambu's brother has released a statement responding to the allegations made against him in the VBS forensic report.

According to the report, Brian Shivambu received R16-million in gratuitous payments from the bank.

Now, he's denying it happened and is threatening to sue the authors of the report.

The younger of the Shivambu brothers says the monies deposited into his company Sgameka Projects’ account were payments for services rendered to Vele Investments, a majority shareholder in VBS.

EFF chairperson Dali Mpofu trivialised the media report that the party's deputy president Floyd Shivambu received R10-million linked to VBS Mutual Bank via his brother.


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