VBS Bank Heist | Shivambu brother admits being paid: report

The Daily Maverick is reporting that Brian Shivambu signed a secret contract, admitting receiving over R4.5-million from VBS bank without doing any work. Journalist Pauli Van Wyk unpacks this further on #eNCA. Courtesy #DStv403

JOHANNESBURG - Brian Shivambu, brother of the EFF's Floyd Shivambu, has promised to pay back over R4.5 million he admits he was given by Vele Investments, according to the Daily Maverick publication. 

READ: VBS looting case transferred to High Court

Vele Investments is, allegedly, one of the companies seemingly set up to loot VBS coffers.

The mutual bank collapsed after being thoroughly plundered. 

READ: VBS bank heist: Bail granted to seven accused

Brian Shivambu was implicated by Advocate Terry Motau's report into the bank.

Shivambu says he was defamed by that report but does admit he owes the money to Vele Investments and that he did not earn it.

Watch the full interview with Investigative journalist Pauli van Wyk in the video above.


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