Floyd Shivambu denies claim he paid for swanky Range Rover with VBS money

Image credit: Twitter/Economic Freedom Fighters

Floyd Shivambu has denied a report claiming he bought a Range Rover Sport using funds flowing from the collapsed VBS Mutual Bank.

In a tweet on Friday, the Economic Freedom Fighters (EFF) Deputy President dismissed the report as “lies.”

The Hawks investigation

Mail & Guardian published the report on Friday.

It alleged that investigators from the Directorate for Priority Crime Investigation (The Hawks) believe VBS funds were used to purchase the swanky car.

Their investigation is reportedly pursuing the money trail from VBS to Sgameka and Grand Azania, two companies associated with Shivambu’s brother, Brian Shivambu.

However, Shivambu told Mail & Guardian that the Hawks have not contacted him about any investigation relating to the Range Rover.

He said he bought the car “long before I even knew there’s a bank called VBS.”

He added that he eventually sold it to his cousin Musa Shivambu in December 2018.

‘Journalists still write lies’

The EFF deputy president repeated his denial on Twitter on Friday morning.

Despite illustration that the car I own was bought through a trade in of a car financed long before any VBS and that the difference paid is nowhere close to the R1 million, the Foolish M&G stooge Journalists still write lies of Werkmans & Bernard Hotz (Pauli van Wyk’s friend).

Floyd Shivambu

Werkmans Attorneys is the firm that conducted the investigation that traced VBS money outflows to Sgameka, Grand Azania, and Mahuna Investments. Bernard Hotz is its litigator.

Mahuna Investments is owned by EFF leader Julius Malema’s cousin, Matsobane Phaleng.

Pauli van Wyk is a Daily Maverick Scorpio investigative journalist.

She recently published a report claiming Malema used a bank card linked to Mahuna Investments to fund his lifestyle.

Malema denied the allegations.

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