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Brian Shivambu's full statement on #VBSBankHeist

Published Oct 11, 2018


JOHANNESBURG – My name is Brian Shivambu. My name was mentioned in the Report by Advocate Terry Motau SC as part of the people who allegedly benefited from what he termed the VBS Mutual Bank heist.

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. 

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Vele Investments told me that since they bank with VBS our company and myself as its Director should open a bank account with VBS Mutual Bank for ease of payments. Receiving money through VBS account does not mean that VBS paid me money. 

Sgameka Projects has since 2017 offered the services to Vele Investments and received the monthly payments as stipulated in the contract. My company does not have any business relationship with VBS Mutual bank.

My name has been mentioned in the VBS Report. At no stage did the VBS Mutual Bank investigators write to me or invite me to come explain my working relationship with Vele Investments. It is discomforting and unlawful to pass judgment on anyone without granting them an opportunity to state my case. 

I previously worked for the EFF Students’ Command as an administrator after I had been a Volunteer at the Head Office since 2013. I left the employment of the EFF in June 2017 to focus on my business interests. 

My brother Floyd Shivambu is the Deputy President of the EFF and not the owner of my businesses. I committed to him that I will give him support, which I have done where possible.

The report details people who played a direct or indirect role in influencing depositors into VBS, and nowhere does it state or insinuate any role I played in the business of VBS. I have never met any municipality of potential depositor to encourage them to deposit money with VBS, because that is not what I do. 

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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. Equally I intend to legally pursue the owners of the VBS Report for defamation of my character and that of my company as well as for the strain this report has caused to my family. pursuing allegations levelled against me in the 

South Africa’s law does not permit anyone to put a juristic or natural person into trial, and convict them without granting them the right to state their version. 


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