close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
AFP
October 14, 2018

South Africa opposition politician rejects graft claims

World

AFP
October 14, 2018

JOHANNESBURG: A leading politician from the radical opposition in South Africa on Saturday denied allegations he was involved in a fraud scheme at a collapsed bank at the centre of a corruption scandal. VBS Mutual collapsed in March after scores of people and companies looted 1.9 billion rand ($130 million) over three years, an investigation commissioned by the central bank said this week, describing it as “corrupt and rotten to the core”. VBS had also granted graft-tainted former president Jacob Zuma a 7.8 million rand loan to repay taxpayers for security upgrades to his private home. Floyd Shivambu, deputy president of radical leftist Economic Freedom Fighters (EFF) opposition party, and his brother Brian, were among those accused of graft and receiving millions in funds, the report said. “For the record, I have never received R10 million from VBS or anyone in my personal account,” Floyd Shivambu said on Twitter. “Faceless sources reportedly to be from South African Reserve Bank, who have ulterior motives, have been misleading journalists and radio presenters with their malicious narrative,” he added. His brother Brian also rejected the report’s findings and threatened to take legal action, according to local press reports.

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus