Just how much money was Brian Shivambu left with?

The latest amount listed in a report linking EFF leader Julius Malema’s cousin to the growing list of those implicated in the VBS Bank fraud has left members of the public wondering if the alleged fraud was worth Brian Shivambu’s while.

A report by Mail and Guardian (M&G) has revealed that Mahuna Investments, a company owned by Matsobane Phaleng, who is also EFF leader Julius Malema’s cousin, received various payments from Sgameka Projects – a company owned by Brian Shivambu, the brother of EFF deputy leader Floyd Shivambu.

M&G reports that the payments range from R1m in June last year to R500,000 in February this year, and a total of about R5.9 million has been deposited to date.

This comes after reports that Brian is one of the many beneficiaries on a list of people who fraudulently received a collective total of over R53 million from the bank.

It was later reported by the Daily Maverick’s investigative unit that the EFF may have received over R1.3 million of the illicit VBS funds after as much as R10 million of Brian’s millions may have been given to Floyd.

So, if R10 million of Brian’s R16 million may have been given to Floyd and a total of about R5.9 million made its way to Phaleng, what was Brian left with?

This was the question of the day on social media as many took the opportunity to do the math and marvel at the sadness of the only logical answer.

https://twitter.com/sudumolepo/status/1055788296675176449

Brian Shivambu received R16 meter from VBS Mutual Bank

And gave

:-R10m Floyd Shivambu
:-R5.8m Julius Malema’s cousin
:-R1.3m The EFF

Total: R17.2m and no longer R16m.

So Brian himself got R-1.2m from this #VBSBankHeist #vbsmutualbank pic.twitter.com/IYvIZClxzU

— Man’s NOT Barry Roux  (@AdvoBarryRoux) October 26, 2018

It should be noted however that the R1.3 million that allegedly went to EFF is purported to have been taken from the R10 million that was reportedly given to Floyd.

Focus mzantsi :Brian Shivambu received R16 millions from VBS Mutual Bank
And gave
:-R10m Floyd Shivambu
:-R5.8m Julius Malema’s cousin
:-R1.3m The EFF
Total: R17.2m and no longer R16m.

So Brian himself got R-1.2m overdraft
😂🤣😂🤣😂🤣😂🤣😂🤣😂🤣😂🤣😂

— Khanya Cba (@sibiyakj) October 26, 2018

https://twitter.com/Njombo_Mabasa/status/1055758834822770688

10 + 6= 16. How much did Brian gain? Too good to be true, His company only made money from VBS ? Pls check facts before reporting.

— 31st December (@kgapaneelvis) October 26, 2018

(Compiled by Kaunda Selisho)

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