Allegations of Corruption Surrounding Malema and Shivambu at VBS Bank Resurface

Six years have passed since the DA’s Baxolile Nodada MP laid criminal charges against the EFF‘s Floyd Shivambu and Julius Malema concerning allegations of corruption and large-scale looting at the now-defunct VBS bank. Despite these serious accusations, the South African Police Service (SAPS) has failed to provide any updates on the progress of their investigations.

In response to SAPS’s inaction, the DA has decided to refer the matter to the Police Portfolio Committee for oversight. A letter has been sent to the Committee’s Chair, Ian Cameron, urging him to summon SAPS to explain the lack of progress in the investigations into Malema and Shivambu since the charges were laid in 2018.

The witness statement provided by Tshifhiwa Matodzi, the central figure in the VBS scandal, presents prima facie evidence suggesting that Shivambu and Malema were involved in a scheme to defraud VBS bank and its clients for personal gain. The alleged actions include using the embezzled funds to finance extravagant lifestyles and acquire properties, leaving a trail of devastation affecting pensioners and bank clients.

As elected representatives, Members of Parliament are expected to uphold integrity and ethical standards. The exploitation of the EFF party by Shivambu and Malema for corrupt purposes at VBS not only tarnishes their credibility but also raises concerns about the ethical conduct within Parliament.

The DA emphasizes its commitment to combating corruption and holding public officials to high ethical standards. Corruption has far-reaching consequences, impacting the most vulnerable members of society and perpetuating poverty.

Given the gravity of the allegations in the VBS case, it is crucial for a thorough investigation to be conducted, and those responsible held legally accountable. The DA calls on the Parliament Portfolio Committee on Police to exercise its oversight function and address why SAPS has failed to conclude its investigations despite the charges brought forth in 2018.