The forensic investigator into the collapse of VBS Mutual Bank has recommended that steps be taken to recoup monies lost from a number of people. File Image: IOL

Johannesburg - The younger brother of EFF leader Floyd Shivambu has finally broken his silence regarding the VBS Bank Heist report. 

In a statement released on Thursday afternoon, a day after the VBS report was released, Brian Shivambu denied receiving money from VBS Bank through his company Sgameka Projects. 

“My company, Sgameka Projects was appointed to provide professional consulting services to Vele Investments in 2017. My company did not have any business relationship, nor did it receive money from VBS Mutual Bank. The contract entered between Vele Investments and Sgameka Projects does not state anywhere that my company will receive payments from VBS Mutual Bank,” said.   

The VBS report was released on Wednesday and detailed how R1.89 billion from the bank was illegally received by 53 people between 2015 and 2018. 

Various politically connected individuals have been listed as benefactors of the illegal payments which left thousands of the bank's customers destitute a few months ago. 

Brian is alleged to have received R16 million from VBS. The Daily Maverick reported that the EFF had received R1.3 million of the funds while Floyd Shivambu received R10 million of those funds. 

Read his full statement here: 

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