The South African Reserve Bank released Advocate Terry Motau’s report which implicated 53 people and companies in fraud and corruption, including EFF deputy Floyd Shivambu’s brother, Brian Shivambu.
Brian Shivambu, however, has denied receiving R16 million in “gratuitous” payments from the loot, claiming he was paid by Vele Investments for consultancy work he provided. Vele Investments is one of the major shareholders in VBS.
The report claims that Manyatshe was paid R11.2m from the loot. He, however, rubbished the allegations, and slammed the report as an attempt to see VBS fail.
“I can categorically say that the R1.87bn stolen money mentioned in the heist report is false. It has been used by the advocate to whip up emotions of the public and the politicians so as to motivate for the closure of VBS, which was among the statements advocate Motau made at the end.