Leaked affidavit details how EFF ‘benefitted’ from VBS
A leaked affidavit by former VBS bank chairperson Tshifhiwa Matodzi has detailed how the EFF and its leaders allegedly benefitted from the now-defunct mutual bank.
Daily Maverick on Friday reported that the party was allegedly paid R16 million in kickbacks, a move which Matodzi described as payments to stop the EFF from attacking the bank for granting a home loan to former president Jacob Zuma for his Nkandla home.
This week, Matodzi was sentenced to 15 years in prison for the looting at VBS bank after pleading guilty to 33 counts of fraud, theft, money laundering, corruption and racketeering.
In the affidavit, Tshifhiwa Matodzi detailed how he met EFF leaders Julius Malema and Floyd Shivambu at a penthouse in Sandton in 2017 to discuss the payments.
READ: Ex-VBS chair pleads guilty to fraud
Some monies were channelled through Floyd Shivambu's brother, Brian Shivambu, who owns Sgameka Projects, a company VBS contracted for consulting.
The publication reports that some of the money was used to buy Shivambu a restaurant in Soweto called Grand Azania, upgrades to Malema’s Sandton home, and a house for Shivambu’s parents.
The EFF has yet to comment on the allegations. However, party leader Julius Malema broke his silence in a post on X that stated that all media inquiries should refer to archives.
Previously, the red berets have denied any involvement in the looting of the VBS bank.
Here are some of the key extracts from Motodzi's leaked affidavit:
Tshifhiwa Matodzi Witness S... by Mmangaliso Khumalo
