EFF deputy-president, Floyd Shivambu has broken his silence on the VBS mutual bank scandal in which his brother received R16 million of which reports allege that Shivambu himself received R10 million.
In a statement issued on Saturday, he lashed out at what he termed "weapons of mass deception and propaganda machines hard at work to mislead our people with their fake news".
"For the record, I have never received R10 million from VBS or anyone in my personal account," Shivambu said.
An independent report commissioned by the SA Reserve Bank to probe the collapse of the mutual bank found that there was "wide-scale looting and pillaging of the monies placed on deposit at VBS.
The monies were clients' life savings and deposits, including millions of rands deposited by municipalities.
The report, titled "The Great Bank Heist" showed that at least 50 people "gratuitously" received R1.894 billion from the bank over a three-year period starting in March 2015.
They included top management at the bank's major shareholder Vele Investments, its associates who cashed in more than R936 million. Others also included bank executives and Limpopo politicians, as well as Brian Shivambu, the brother of EFF deputy president Floyd, who received R16 million.
Brian on Thursday denied receiving R16 million from the now-defunct VBS Mutual Bank. In a statement, he said he plans to sue the SA Reserve Bank for defamation of character.
