Brian Shivambu, brother of the EFF’s Floyd Shivambu, has promised to pay back over R4.5 million he admits he was given by Vele Investments, according to the Daily Maverick publication.
Vele Investments is, allegedly, one of the companies seemingly set up to loot VBS coffers.
The mutual bank collapsed after being thoroughly plundered.
Brian Shivambu was implicated by Advocate Terry Motau’s report into the bank.
Shivambu says he was defamed by that report but does admit he owes the money to Vele Investments and that he did not earn it.