Cape Town - The South African National Civic Organisation (Sanco) has slammed the Economic Freedom Fighters (EFF) over its silence on the VBS Mutual Bank scandal.
"The EFF is showing VBS Mutual Bank investors and the public the middle finger with its deafening silence to allegations that its President, Julius Malema and Deputy President Floyd Shivambu were among prime beneficiaries of the bank's R2 billion fraud scandal," Sanco said in a statement on Saturday.
"The typical no apology-apology that the EFF will ultimately come up with for its failure to take the public into its confidence will only attest to the fact that it has lost high moral ground because as things stand, the emperor is completely naked," said Sanco spokesperson Jabu Mahlangu.
An independent report commissioned by the SA Reserve Bank to probe the collapse of the mutual bank found that there was "wide-scale looting and pillaging of the monies placed on deposit at VBS". The monies were clients' life savings and deposits, including millions of rands deposited by municipalities.
The report, titled "The Great Bank Heist" showed that at least 50 people "gratuitously" received R1.894 billion from the bank over a three-year period starting in March 2015.