Malema: Shivambu 'only' got R16m from VBS, why the big fuss?


A cheeky retweet saw Julius Malema sharing the calculations put forward by one of his supporters, asking why there was such a big fuss over Brian Shivambu's VBS R16 million when bigger amounts were allegedly looted.


The Economic Freedom Fighters deny any wrongdoing as far as VBS Mutual Bank is concerned.

Nevertheless, party leader Julius Malema had apparently been so impressed with a post put forward by one of his followers that he retweeted it.

In the tweet shared by Malema, Vusi Sambo claims that the largest amounts stolen from the defunct bank had gone to 'ANC cadres', with Brian Shivambu, Floyd Shivambu's brother, pocketing less than 1% of the total.



READ ALSO: Floyd's brother Brian Shivambu sued over R4.2m in unpaid VBS loans

TimesLIVE took this retweet as an endorsement from Malema, who appeared to agree with the reasoning that the alleged theft was excusable if the amounts were keep to a minimum.

Both the EFF president and deputy-president have maintained their innocence. Brian Shivambu has been subjected to legal action in this regard. reported that Floyd Shivambu's bother, Brian Shivambu is being sued over R4.2 million in unpaid mortgages and loans taken out at VBS Mutual Bank.

The liquidators of the bank are suing the brother of Floyd Shivambu and have asked that his company, Sgameka Projects, be placed under liquidation for breach of contract



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