VBS scandal haunts EFF’s Floyd Shivambu

Parliament’s Ethics Committee has found EFF Deputy President, Floyd Shivambu, guilty of violating its Ethics Code of Conduct.

The committee found Shivambu failed to declare R180 000 he received from his brother’s company Sgameka Projects, which was engulfed in the VBS bank scandal.

The company allegedly received R16 million from the now defunct VBS bank.

The VBS scandal rocked South Africans in 2018 when almost R2 billion was stolen by the bank’s directors, senior executives and well-connected politicians.

Former DA MP, Phumzile Van Damme, had lodged the complaint against Shivambu that same year, with the party calling for investigations into the possible conflict of interest. 

Wow.
5 yrs later, and only R180 000.
What about the Range Rover? The clothes? The properties? The cash?

That is about 1,1% of what #FloydShivambu and #JuliusMalema actually stole from #VBS.

Well done to @zilevandamme.
And a proper boo to @ParliamentofRSA. https://t.co/pDLbNqQ3pu

— Pauli Van Wyk (@PaulivW) October 2, 2023

At the time the EFF MP vehemently denied any dealing with the bank or benefitting from funds allegedly looted from the collapsed bank.

The Ethics Committee has since proposed that Shivambu be docked a nine-days’ worth salary over the violation.

It couldn’t make any findings against EFF leader, Julius Malema. 

The DA’s John Steenhuisen had also asked for him to be probed.

Wow, this is a DAMNING report finding!

Abo #FloydShivambu and #EFF are said to be beneficiaries of STOLEN #VBS funds.

They seemingly are living large off of theft from poor people, and it must be said, mostly black people, who lost everything. https://t.co/cJeOxDR7Gh

— Sihle Ngobese (@BigDaddyLiberty) October 2, 2023

A lady worked for over 30 years as a nurse,she retired and put her pension in VBS thinking that she will enjoy the twilight of her life with her pension. It was not to be. Julius Malema and Floyd Shivambu stole her money to buy alcohol,designer clothing and to party. What type of… pic.twitter.com/qTA1LD5Goh

— Goolam (@goolammv) October 2, 2023