Thread by @PaulivW

#VBS
#SARS’s Criminal and Illicit Economic Activities division traced stolen VBS money through two front companies into #EFF deputy leader #FloydShivambu’s FNB Private Wealth bank account. dailymaverick.co.za/article/2021-0…

#FloydShivambu’s sustained charade of ‘fighting for the poor’ instead of robbing them is, for the first time, highlighted by a state institution in open court proceedings following #Sars investigation into his brother, Brian, and the missing #VBS millions. dailymaverick.co.za/article/2021-0…

#Sars has slapped 2 companies of #BrianShivambu with a R28.2m tax bill. This eye-watering amount includes penalties because Shivambu attempted to evade paying tax for the periods 2017, 2018 and 2019.
Relates to Sgameka: google.co.za/amp/s/www.dail…
And Mahuna: google.co.za/amp/s/www.dail…

#Brian Shivambu “defrauded” #VBS out of R16m, #SARS found. He “committed a criminal offence” by not declaring income tax & VAT – conduct which is regarded as “intentional tax evasion” – and, when contacted by SARS, he acted in an “obstructive” manner dailymaverick.co.za/article/2021-0…

Being dismissive of #SARS compounded #BrianShivambu’s problems. His conduct earned his companies 125% & 200% tax penalties, respectively. Companies are also hopelessly insolvent - so Sars brought 2 liquidation applications against filed at the High Court in Pretoria in July.

#VBS
#GrandAzania & #SgamekaProjects, #SARS told the court, “have been utilised by its director and only shareholder, #BrianShivambu, as the vehicles through which he defrauded the VBS Mutual Bank of approximately R16-million”. dailymaverick.co.za/article/2021-0…

#VBS
These open court procedures include reams of tax assessments & bank statements in support of #SARS’ extensive investigation – including 6 months’ worth of bank statements from #FloydShivambu’s FNB Private Wealth bank account, dated 25 May to 24 Nov 2017.
We followed the 💰:

#Sars found #VBS loot flowed directly into #FloydShivambu’s FNB Private Wealth Bank account as well as in 2 #EFF bank accounts.
Also into #Mahuna, which I already analyses & described as #JuliusMalema’s front. (Sars papers about #BrianShivambu make no mention of #Malema)

#FloydShivambu’s total income from 25May-24Nov2017 was just over R2.3m. This figure includes his parliamentary income of R260,448.85. Shivambu received a parliamentary salary of about R44,000 each month, plus 3 smaller ad hoc payments for which the reason is unclear.

#FloydShivambu as DP of the 3rd-largest party in Parliament has since inception of #EFF declared no additional income, trusts or assets to Parliament. His FNB Private Wealth bank statements, alarmingly, show he received in 6mnths just over R2m more than he legit should have.

23 Oct 2018, #FloydShivambu: “…I can state here categorically clear, without any fear of contradiction, that the #EFF and ourselves as members of Parliament never benefited anything from the #VBS looting and the so-called heist that happened there…”

Yet, here we are.

Side note: FNB’s Private Wealth Bank account is a product focused on “high-net-worth individuals”. It comes with a private banker and R529pm service fee.
Revolutionary.

#FloydShivambu #VBS