Reader mode

EFF implicated in VBS scandal ?

Essential_services_101 06/26/2020

Following last week's arrests , EFF leader Julius Malema addressed the media on the VBS Mutual Bank scandal on Thursday.

The outspoken Economic Freedom Fighters (EFF) leader Julius Malema said on Thursday he would resign from public office if any municipality could prove he influenced them to invest money in the now defunct VBS bank.

The DA (Democratic Alliance) said in a statement that many municipal official and political leaders have escaped serious consequences even as they left municipalities in financial distress.

View pictures in App save up to 80% data.

This was after the funds that were stolen in VBS bank represent investments made by numerous local and district municipalities from across the country. Pensioner and stokvel accounts, and all this is said to be totalling a figure of 2.2 Billion.

The scandal often labelled as "The Great Bank Heist" was the debate of the day, and the EFF leader distanced himself from benefiting from the bank as suggested in media reports.

The EFF leader also added that EFF’s finances are already being monitored by Parliament and the independent electoral commission – in line with legislation as it’s the third biggest political party. 

He also said that EFF's stance on public statement that previously were released regarding the VBS Bank were a mechanism they used because they believed VBS Bank should have been rescued as it is a black-owned bank.

View pictures in App save up to 80% data.

The investigators in the case were put under pressure in the period between the conclusion of the probe into the collapse of the bank and the arrest of the suspects to find the smoking gun needed to nail unnamed big fish.

Van Wyk who has been the leading investigating journalist in the VBS scandal has published stories on how the EFF, Malema and his second-in-command Floyd Shivambu are believed to have benefited from the looting of the bank.

Although Van Wyk wasn't present during the briefing (as it was by choice of the journalist) , we only hope as we unravel the story that the truth is found

Source: opera.com
The views expressed in this article are the writer's, they do not reflect the views of Opera News. Read more>>
Top Comments
GUEST_AgB2QPEP8 · 06/27/2020
Knowing Malema he is the main culprid only using his political powers to overule others to take the blame. Meantime he provail and live in luxutry while others rot in jail. He is not only a raxist but also a terorist to SA and the people.

Less Data,More News — Less than 1MB