Brian Shivambu has denied allegations that he benefited more than R16m.

Johannesburg - The net is closing in on the politicians, auditors and municipal officials implicated in the large scale looting of the VBS Mutual Bank.

On Thursday the Hawks and National Prosecuting Authority confirmed that they have assigned cops and prosecutors to investigate a report by advocate Terry Motau, which made shocking revelations that VBS executives had looted close to R2bn in what was described as “The Great Bank Heist”.

This was as the ANC and the SACP weighed in on the matter, calling for speedy prosecution for those fingered in the siphoning of funds from the bank.

It has also emerged that Limpopo property developer David Mabilu is fearing for his life and has had to beef up his security.

Mabilu, who is a shareholder at the bank, is suspected by the implicated executives to be the whistleblower who exposed the grand theft at VBS.

Investigators have indicated that Mabilu, who is said to have lost a lot of money when the bank was bought, had not benefited from the close to R2 billion that was looted at the bank in the last three years.

NPA spokesman Luvuyo Mfaku said the NPA will use the latest forensic report as a 'springboard" to allow its investigators "to know exactly what they are looking for".

He said in the past the NPA appointed five highly competent prosecutors to looking into  VBS after numerous cases were lodged by the different municipalities.

"This is not a useless document. We are going to use it in our investigations," Mfaku said.

Hawks spokesperson Brigadier Hangwani Mulaudzi confirmed that the elite crime unit had received the Motau's forensic report on Wednesday.

"It is our guiding document. We are busy with our independent investigations. We are not going to cut it out. The NPA has appointed a prosecutor who is looking into the forensic report. The prosecutor after thorough studying the contents of the report, will guide in our investigations," Mulaudzi said.

EFF deputy president Floyd Shivambu’s brother, Brian, also broke his silence on allegations that he benefited more than R16m.

In a statement, Brian denied having received money from VBS.

“I am willing to cooperate with law enforcement institutions in South Africa to put this matter 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.

EFF national chairman Adv Dali Mpofu came in his defence on social media and national TV, saying Floyd’s is not “his brother’s keeper”.

ANC elections head Fikile Mbalula said that the VBS matter required decisive action by those charged to deal with it.

“The State must do want it must do to ensure that we deal with corruption. Our people are clear that we do not act decisively against corruption. So heads must roll,” Mbalula said.

SACP spokesperson Alex Mashilo said his party wants action to be taken against the Reserve Bank for its alleged failure to detect the fraud at VBS earlier, adding the looting would not have taken place for such a long time.

Mashilo also agreed with Motau to probe the fraud that all those with professional qualifications such as chartered accountants and lawyers should be reported to their professional bodies to cancel licences.

“Decisive action must also be taken against implicated auditing firms such as KPMG and those who were involved in the auditing of the finances of municipalities that “invested” with VBS Mutual Bank against the law,” Mashilo said.

Reserve Bank confirmed that it had not exercised its option to either reject or accept Motau’s recommendation but had instead referred his findings to the NPA and Hawks for final decision on prosecution.

Reserve Bank Deputy Governor Kuben Naidoo reiterated that they had referred all the findings to the all law enforcement authorities.

“The evidence presented in the report is not a reflection of either the guilt or innocence of any party as not all parties have been given an opportunity to respond to the evidence.

Additional reporting by George Matlala