SOUTH AFRICA: THE VBS MUTUAL BANK HEIST- WHEN THE EFF WEASELS COME HOME TO ROOST!

 

 

 

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Article posted by: White Nation correspondent Johannesburg  October 14  2018

 

ALSO VISIT:

 

Court of appeals refuse Molefe’s appeal- force Molefe to pay back corrupt ESKOM pension pay-outs.

Politicians are wasting money

Malema under severe pressure to suspend Shivambu

Ramaphosa was well aware of the VBS plundering- but did nothing

Ramaphosa now are declaring war against his own ‘people!”

ANC moneyman ‘netted millions from VBS Bank bribes’

Shivambu could lose his office, after links to another massive financial scandal: used dodgy account number to move funds

Schadenfloyde — EFF, VBS, and the rot of the South African body politic

Malema, Shivambu are Corrupt” Top EFF Members Exposes, Promise To Report To Hawks.

Auditor that investigated corruption in South African municipalities assassinated.

Vhavenda King: ” I will return money if illegally proven.”

 

 

 

SOUTH AFRICA– THE MARXIST PIRATE’s REALM DOWN SOUTH

 

“The majority of the women who are deployed as councillors as well as at the head office are women who are having relationships with the leadership, namely with Floyd Shivambu and Julius Malema. They are rotated among these two. We can [cite] many examples of comrades also from our province, but we will refrain from doing this out of respect for women.”

IT happened at long last! Karma eventually caught up with the loud mouth Stalinists of the Economic Freak Show  Fighters. That “white money capital” bra Julius kept on warning us about eventually caught up with our EFF heroes as well. 

For so long have the  black political  Stalinists  blamed whites for being capitalist ” colonials.” And what did the EFF do….they themselves became just that….capitalist black “colonials.” They neatly stepped in their own sh*t they created for someone else. Even among the ANC and many black political thieves there are  now a scramble to try jumping  from  the sinking ship. 

With all Malema and Shivambu’s bravade and so-called “war “ against “white capital” and the “rich white colonials” and “white monopoly” rhetoric with which they instigated hatred and division between  black and white-  it appears this heathens themselves had sticky fingers and dug DEEP into that same “ white capital. ” South African politics are corrupt. South African politicians – from the president right down to the lowest MEC – irrespective of their affiliation- are corrupt. Since 1994 South African politicians were responsible for the total implosion of South Africa’s economy. Al 400 of them in parliament should be charged with grand theft , corruption, embezzlement , money launderingcrime against the state –  and locked up. Why we even listen to these political crooks’ “laws” they pump out on a monthly basis in still a sinister riddle. Why we still pay taxes to pay their enormous salaries is another irony. Why people still vote these shrewd con artists into power to govern them- is the jackpot question. Politicians is the personification of Satan’s power on earth. Stop voting for the devious reptiles. We don’t need them to rip us off, impoverish us, sell out our country- and choke us to death with taxes like they do. We can govern ourselves. 

Robert Madzonga a founder and former Chief Executive of VBS and his wife Khosi Madzonga enjoyed a life of luxury. He even acts as a pastor. With all the money looted and embezzled from the public they have luxury cars, houses, boats, a helicopter going on holidays etc. Yet, he denied that he knew anything. His wife, once news got out – was removed as Brand Ambassador, she was a finalist in the Mrs South Africa competition. Whilst they live in luxury it is the small investors that are crying.

 

This shrim-shranks have quickly deleted all their photos of their lifestyle- but White Nation tracked down the pictures and we place it here for your scrutiny of how the black “elite” are plundering the country- while bra Julius and his “Isinyoga”  cohorts continuously are accusing whites to carry the  blame.   R2 billion was looted in the VBS bank plundering scam and could be more. The forensic investigator who looked into the rot of VBS Mutual Bank has concluded that the rot in the bank ran too deep to salvage it. Advocate Terry Motau in his final report said that an amount of R1.8 billion was gratuitously received from VBS by some 53 persons over the period 1 March 2015 to 17 June 2018.

The EFF and its Deputy President Floyd Shivambu have benefited financially from the VBS Mutual Bank scandal, sources claim. Shivambu, who is said to have received about 10 million VBS-rand through his younger brother Brian, has for months tried to suppress the investigation into VBS by casting shadows over the integrity of officials in National Treasury and the Reserve Bank. Since the VBS report, titled ‘The Great Bank Heist’, was released on Wednesday, the EFF has retracted into a stony silence. A tame media statement on Wednesday evening, released just before 21:00, reiterated the party’s position ‘that all who are responsible and illegally benefited from the fraud must be criminally prosecuted immediately’. While details are still somewhat sketchy, this is what we know so far:

The EFF has allegedly received R1.3-million illegally flowing from VBS Mutual Bank into the party’s bank account, three sources told Scorpio. Floyd Shivambu’s younger brother, Brian, allegedly funneled around R10-million through a company called Sgameka Projects into Floyd’s personal bank account, the same sources said. Brian is the sole director of Sgameka Projects.

The damning investigative report into VBS, commissioned by the Reserve Bank and released on Wednesday, found that Brian received R16,148,569 in “gratuitous payments” emanating from the bank. The evidence detailing the Shivambu brothers’ nefarious activities consists of bank statements of the relevant entities – it was not included in the report to SARB because the investigators’ mandate related specifically to VBS.

 EISH!!!!!! That “white money capital” surely is contagious– now isn’t it?

The evidence is however kept under “lockdown”, sources said. It is now up to law enforcement to initiate and investigate criminal charges. “We don’t exclude the fact that there were more money flows from VBS through other fronts to the EFF and Shivambu,” a well informed source said. The VBS Mutual Bank report, titled “The Great Bank Heist” and investigated by Adv. Terry Motau SC and law firm Werksmans, is a tale of the elderly, the poor and several municipalities duped into banking with what started off in the late ‘80’s as the Venda Building Society.

Motau and Werksmans’ damning report into fraud, probable money laundering and reckless business practices found that around 53 people unjustifiably and illegally received R1.89-billion between 2015 and 2018. It is against the Municipal Finance Management Act (MFMA) for municipalities to bank with VBS. The Reserve Bank got wind of these contraventions of the MFMA as well as serious allegations of corruption at VBS and put the bank under curatorship amid a liquidity crisis in March 2018. (More about the liquidity crisis later.)

JUST look at the “sir “ and “madame”– …..living off small investors’ savings!

The MFMA was written by Treasury official Ismail Momoniat – the longest serving Deputy Director General at National Treasury. Momoniat was a driving force behind finding out what was happening behind the opaque veil at VBS. As part of his portfolio, Momoniat often reported to Parliament on the matter. The Shivambu brothers’ secret involvement in the VBS scandal pitted Floyd, in his role as Member of Parliament and Deputy President of the EFF, against Momoniat, National Treasury and SARB. Shivambu’s panicky and vitriolic reaction to the probe culminated into racist remarks about Momoniat’s non-Africanness; a debacle that left the EFF smarting from an unexpected public retaliation in June 2018.

Posted by Louis de la Porte on Sunday, October 14, 2018

 

Posted by Louis de la Porte on Sunday, October 14, 2018

 

While the black “bling-bling” brigade steal the bank empty- they fly in a Bell chopper over the poor suffering ” maklaka-klaka” investors below suffering in their shacks- laughing their heads off while they are counting the dollars. 

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 These people queued for days to see if they could salvage some of their money, but these thieves had done a good job of stealing it all and then lying to protect themselves. BUT that is the EFF and ANC alike – loud mouths-  arrogantly lecture everyone about “nationalizing banks “- and then get caught stealing from a bank. They  claim to fight for black people who are “ marginalized, “- then they went and rob the poorest of the poor, the elderly, the very same people they claim to fight on their behalf. Now who will take the blame….the whites – or “apartheid” again? 

Shivambu, Malema and the EFF have since maintained that the party is only concerned for the black-owned bank’s clients. On Wednesday night, just before 21:00, party spokesperson Mbuyiseni Ndlozi released a tame press release devoid of its usual punchiness. (He was unreachable after news of Brian Shivambu’s VBS windfall broke, and after releasing his press release, Ndlozi remained unattainable.) Where Ndlozi’s Tuesday press release – relating to Nhlanhla Nene’s resignation as minister of finance – referred to Nene being “party to the most unpatriotic state capture by a family of foreign nationals”, his Wednesday press release had no such resolute color.

Said Ndlozi: “The EFF reiterates its position that all who are responsible and illegally benefited from the fraud must be criminally prosecuted immediately.” Ndlozi did not answer Scorpio’s specific emailed questions, nor did he respond to a tweet sent to him about the emailed questions.

Ndlozi’s press release continued:

“The law enforcement agency must do all they can to ensure that all the money that can be recovered must be paid back in full including attaching properties of the individuals who benefited from the defrauding of VBS. The EFF is concerned by the findings that the bank cannot be saved. Shutting down the bank will not help efforts to increase black participation in the financial sector… it is concerning that such looting has been allowed to happen since 2015…”

Attempts to reach the Shivambu brothers directly were unsuccessful on Wednesday. But on Thursday afternoon, Brian Shivambu responded in a statement posted by Floyd Shivambu on Twitter:

VBS’ money problems

The liquidity crisis is, in simple terms, blamed on the fact that VBS managers, politicians and tenderpreneurs – like the Shivambu brothers and EFF – gutted the bank into implosion. To avert a crisis of skeletons spilling out of the closet, the bank managers tried to solicit big payments from state entities such as the Passenger Rail Agency of South Africa (Prasa). General Manager of Treasury at VBS Phophi Mukhodobwane, a key witness in the investigation, testified that VBS had attempted to solicit R1-billion from Prasa in late 2017. Mukhodobwane testified that a “commission” – read “bribe” – of R1.5-million was paid to a group of union officials from Satawu (South African Transport and Allied Workers Union) who claimed to be able to facilitate such a large deposit from Prasa, the report found.

Motau and Werksmans continue, stating:

VBS paid that amount to the Satawu officials, through a front, in anticipation of the deposit being made. According to Mukhodobwane’s understanding, the successful facilitation of the deposit from Prasa would be dependent upon ‘NDZ’ succeeding to the Presidency of the ANC at the party’s elective conference held in December 2017. Mukhodobwane testified that after the ‘unexpected’ outcome of the ANC elective conference, a renewed attempt was made… to solicit the R1-billion from Prasa. The plan was stymied thanks to an unrelated (yet connected) investigation into Prasa.

Mukhodobwane himself stole R30-million from the bank, Motau and Werksmans found. He further testified against Danny Msiza, Provincial Treasurer of the ANC in Limpopo. He described Msiza as a “kingpin” in the scheme where municipalities were connected with VBS while the middle man would be paid a “commission” – a fee that classifies as a “bribe” and is illegal under South African law. Motau and Werksmans said Mukhodobwane was “extremely reluctant to reveal [Msiza’s name] and he expressed fear about his personal safety as a result of making this disclosure.”

The EFF: Falling into a trap it has built for others

Hours before SARB released its investigation into the VBS Mutual Bank scandal, the EFF ramped up significant public pressure against ANC stalwart Nhlanhla Nene. He lied about meeting the Gupta family and evidence implicates his son, Siyabonga Nene, as possibly having benefited from a dodgy PIC deal. (amaBhungane and Mail&Guardian wrote about it here.)

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The EFF campaigned hard against Nene – he could not stay on as minister of finance, he had to resign or be fired. EFF spokesperson Mbuyiseni Ndlozi said on Tuesday that Nene’s “continued stay as minister of finance is not in the interest of South Africa. Treasury cannot be presided over by a person without integrity, Nene lied on numerous occasions about his role in Cabinet and government… He also facilitated the capture of the state by the criminal Gupta syndicate. He was party to the most unpatriotic state capture by a family of foreign nationals.” The EFF ultimately contributed to forcing the resignation of Nene as minister of finance.

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With clever sloganeering, the EFF has, since inception, also created a campaign around the involvement of former President Jacob Zuma’s son Duduzane with the Gupta clan. Parliament was disrupted on several occasions, often turning into violent outbursts. Ndlozi’s famous “uBaba ka Duduzane” was turned into a popular song.

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Now the red weasels have been caught in a trap of their own making: Their top structures are deeply implicated in the VBS scandal. Brian Shivambu allegedly funneled around R10-million of his stolen R16.1-million to his older brother Floyd through a company of which Brian is the sole director, sources claimed, and the party itself allegedly benefited to the tune of R1.3-million. It is now a situation, clever Twitter commentators said, where “uBaba ka Duduzane” will be measured against “uBhuti ka Brian”.

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This is how the “loot” was divided among the robbers…

The fallout so far:

On Wednesday evening the Public Investment Corporation (PIC) denied VBS official Phophi Mukhodobwane’s testimony that its CEO Dan Matjilamay have received R5-million in cash from the VBS loot. Motau and Werksmans did state that “… Mukhodobwane is unaware of whether or not the R5-million was indeed paid to ‘Dr Dan’…”.

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The PIC also announced that it has taken important steps against its two delegated Directors on the Board of VBS Bank,Ernest Nesane and Paul Magula. Motau and Werksmans found Nesane received R16.6-million and Magula received R14.8-million in incongruous payments from VBS. Magula was dismissed for incompetence in April 2018 and Nesane resigned two days after testifying before Motau, the PIC statement said. The Financial Sector Conduct Authority also granted the PIC’s application to debar both officials. The PIC has also applied for Nesane to be struck from the roll of attorneys. Criminal charges will also be laid against Nesane and Magula.

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GUCCI-suits and Bell transports...now THAT is how a rich black man must live on “white capital” in South Africa my bro’!

Motau and Werksmans further found that former KPMG partner Sipho Malaba knew about a nearly R1-billion cash shortage at the bank, but signed off on VBS’ financials anyway. He was gifted about R28-million for being a team player. KPMG must be held liable for damages incurred by the VBS curator, National Treasury and the Prudential Authority, Motau and Werksmans found. Because Malaba defrauded the Reserve Bank, he should also be criminally charged. Malaba and another KPMG partner Dumi Tshuma had resigned in April 2018 when their part in VBS’ failure became known.

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Then came another little yellow bird and spilled the beans that Mr Julius (white capital) Malema is a Shareholder (47%) of Dyambeu Investments – which in turn is owned by the King Dyambeu and falls under Vele Investments,the same Vele Investments that have looted R900 million from VBS Bank..!! And Dyambeu of Mr Malema have recently purchased Helicopter and G63s for the EFF King. BUT “white money capital” was giood for bra Julius. Julius also posess property at Port Owen (admiral Island) a  double storey black mansion in Bendor ridge Polokwane. Hmmm…and there we thought whites had it all!

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So THERE you have it folks! Now we want to see this EFF “white money capitalists” barfing their way out of this one. We await  the normal silence to prevail for two weeks – and cell phones hitting that “Voice mails” without getting any answer from Mr. “White capital” and his 2IB side-kick Shivambu. Then we await the normal flat denial- and then the blame shifting that the poor ”  innocent ” red-capped crooks now are being “framed” and all the usual crap accompanying it. Will we at last see the law applied equally in this EFF ” Black Economic Empowerment” move  – and this morons also slammed in jail for fraud like the rest of the “people”or will they – like uncle Zuma- neatly side-step the slammer with lots and lots of political bullsh*t and duck for the “indemnity”  cover like tannie Tina Joemaat Pietersen? We bet Malema and Shivambu’s puppeteer in London- Robin Renwick– must be having a nightmare-or two as well about the way his two little bitches are running amok in South Africa- robbing banks! Well Robbie ol’ boy- you black hearted “elite” pirates should know by now that this behavior is an “African-thing” running for what- 400 years already?  You  taught them well…indeed! No sympathy here I’m afraid. 

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 Now we will observe  if only small thieves get jailed by the so-called “law”- all while the BIG thieves are stealing the country blind? Get out that popcorn- the show is about to begin. Let us now  observe all the political evasive maneuvers and emergency actions kick  into top gear in that EFF viper’s nest . It will be quite interesting to hear from which angle bra Julius now will launch his dastardly attacks against that ‘white monopoly capital”- as he himself now is an accomplice to bank robbery. Next time bra Julius start his clever rhetoric about “white capital monopoly” again- we will use his own words against him that he used so many times against against Zuma: “ Shut up and pay back the money!!!” Zuma must be laughing his head off right now…and so are we Jacob…so are we.

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As expected  we also will see pathetic  white liberal idiots such as Max Du Preez sucking up some black commi arse as we now see below:

WELL DONE MAX-you are so deep nestled into the commi back-side – only your pedicure still sticks out!!  They say to determine a tree’s age- just count the rings on the stem. To determine how deep a white liberal is sucked up into a non-white arse one only have to count the amount of rings of sh*t around his head I suppose?

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AT least his picture was placed where it belongs!

 

WHITE NATION– WE DO NOT HATE WHITE LIBERALS– WE SIMPLY DESPISE THE FILTH!!

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