VBS Mutual Bank: Is the end of Julius Malema and Floyd Shivambu near?
Julius Malema and Floyd Shivambu — they could’ve been contenders, now they’re just crooks, writes Daily Maverick’s Richard Poplak.
An EFF supporter at the Moses Mabhida Stadium in Durban ahead of the red berets manifesto launch on 10 February 2024. Picture: X/Niehaus_carl
Daily Maverick contributor Richard Poplak joins John Maytham.
Listen below.
Julius Malema and Floyd Shivambu robbed a bank and now they must face the consequences.
So writes Poplak in his recent Daily Maverick article 'The end of Julius Malema and Floyd Shivambu — they could’ve been contenders, now they’re just crooks'.
In the piece, the author and journalist begins by looking back over the history of the Economic Freedom Fighters (EFF) - unpacking its political wins and losses and giving the party the benefit of the political doubt.
But he goes on to suggest that the politics was all just a front. The EFF was primarily a means of 'accruing illicit wealth' and the VBS scandal is proof.
Poplaks's conclusion? 'Julius Malema and Floyd Shivambu are going to jail'.
But are they?
"When you look at this most recent affadavit that's doing the rounds, when you look at all the stuff that's been unearthed... when you look at the preponderance of evidence against these gentlemen, you have to reason that the National Prosecuting Authority will have to act."
- Richard Poplak, Daily Maverick
Someone who is going to jail is former VBS chair Tshifhiwa Matodzi.
The so-called 'kingpin' behind the almost R2 billion VBS Mutual Bank heist pleaded guilty to 33 charges as part of a plea and sentence agreement with the State.
The charges included corruption, theft, fraud, money laundering and racketeering.
So, why hasn't the NPA moved on Malema et al?
Poplak says it would only do so if it felt it had the backing of the political structures.
"It didn’t. Until now," he writes.
"At this point, it is going to be very, very difficult for President Ramaphosa to withstand calls for something to be done about the VBS saga."
- Richard Poplak, Daily Maverick
The case is the NPA’s to lose, says Poplak.
"The assumption being, you and I as taxpayers would end up bailing out the bank and everybody would be made whole and it would be a victimless crime, but that has not happened."
- Richard Poplak, Daily Maverick
"That bank was robbed down to the last penny."
- Richard Poplak, Daily Maverick
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