EFF Floyd Shivambu Has Allegedly Acknowledged That His Range Rover Was Bought With VBS Money. Economic Freedom Fighters member Floyd Shivambu has allegedly acknowledged that his Range Rover was funded with VBS Mutual Bank funds.
Economic Freedom Fighters member Floyd Shivambu has allegedly acknowledged that his Range Rover was funded with VBS Mutual Bank funds. The EFF member was approached with the existence of R680 000 payment from Brian Shivambu’s organisation, directed to the car dealership where Floyd Shivambu bought his Range Rover Sport.
The Economic Freedom Fighters member allegedly stands firm in stating that the money is clean. This is reportedly based on his brother paying back the two loans that were given to him, under the organisation Sgameka, costing over R4 million that was they permitted to offer him. Floyd Shivambu says that the idea that money was stolen from the VBS bank is imaginary. “So your imagination that there was money stolen from VBS is imaginary. Why would he settle the money if the money was stolen,” says Floyd Shivambu. The M&G’s supposedly found out through sources that Brian Shivambu’s organisation, Sgameka, electronically transferred R680 000 to the dealership that the Economic Freedom Fighters member traded in his Range Rover Sport for a new one.
The amount was reportedly transferred in order to close the shortfall amidst the old 2013 model and the new model. Floyd Shivambu says his brother transferred R680 000 to the dealership, Trenditrade, as a way of buying one of the Economic Freedom Fighters member’s old vehicles, a 2012 BMW 7 Series which was in a severe accident and repaired by a panel beater within three years. Floyd Shivambu says, “Of course the car was registered in my name because of an earlier transaction of trading in my previous car, and in exchange of the BMW 7 Series, my brother paid the shortfall.”
by Alexandra Ramaite