JOHANNESBURG - The Economic Freedom Fighters (EFF) denied receiving corrupt funds after the brother of its deputy president was named in a South African Reserve Bank (Sarb) probe of benefiting from fraud at VBS.
A report commissioned by Sarb and published on Wednesday found at least R1.9 billion had been siphoned illegally from VBS, a failed bank that bailed out former president Jacob Zuma after a corruption scandal.
One of the beneficiaries was Brian Shivambu, who received R16 million of "looted" funds from VBS, the report said.
Reuters could not reach Shivambu for comment.
He is the younger brother of EFF deputy President Floyd Shivambu.