Jhb High Court Orders Brian Shivambu To Pay Back R1.8M To VBS Bank’s Liquidators

Riyaz Patel

Brian Shivambu, the brother of EFF Deputy President Floyd, who received millions from the now-defunct VBS Mutual Bank, has been ordered to pay back R1.8 million to the bank’s liquidators.

The Johannesburg High Court order forms part of a bid by Anoosh Rooplal – the liquidator of VBS – who is seeking to recover R2.7 million that was part of a R4 million loan granted to Shivambu’s company, Sgameka Projects in 2017.

VBS Bank imploded after an investigation found that billions were stolen in what is known as South Africa’s largest bank heist.

Rooplal said Shivambu would have to cough up close to R1.8 million as part of the court order. He said Shivambu was in arrears for more than R2.7 million, and about R1 million of this had already been paid since the court case started.