Shivambu, who has been implicated in the bank’s looting, has responded to the report.
Brian Shivambu, the brother of the Economic Freedom Fighters’ (EFF) Chief Whip, Floyd Shivambu, plans on taking legal action against Advocate Terry Motau, over the report which accused him of receiving millions.
“I intend to legally pursue the owners of the VBS Report for defamation of my character and that of my company as well as for the strain this report has caused to my family”, Shivambu said in a statement.
“I am aware that my brother’s name has been raised in relation to this matter. I am a private businessman and I do not intend to involve myself or my family in political debates”
The South African Reserve Bank released a report which details the extent of looting at the bank.
VBS came under the spotlight earlier this year, after it was revealed its own management allegedly looted R1.5 billion.
The bank was placed under curatorship in March this year.
Shivambu is included in a list of 27 people and companies who received the largest amounts of money from the bank in the scheme.
The bank has opted not to disclose further details surrounding the forensic report, due to the ongoing investigation.
Shivambu said he is open to working with law enforcement to have the matter put to rest.
“I believe that anyone who is found guilty with wrongdoing on the VBS case must be held accountable and monies that were illegally siphoned should be paid back.”
Thabo Baloyi
t.baloyi@politicalanalysis.co.za
