According toNews24,Vele Investments previously operated as a majority shareholder in VBS Mutual Bank.
Vele and VBS executives allegedly stole over R1.5 billion from the bank’s depositors.
The reimbursing of R4.55 million allegedly being the second link to VBS that Shivambu was forced to honour.
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The first was a payment of R2.78 million.
Two years ago, the journalist published his book detailing the corruption that brought the entity to its knees.
A number of reports have detailed the alleged ties between Shivambu and his brother Brian to the bank.
Bryan Shivamb is set to pay back a whopping R4.5m to Vele Investments, according to reports. Image: FacebookSource: Facebook
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Source: Briefly News
Reeshni ChettyReeshni Chetty is a senior current affairs reporter.
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Reeshni has a passion for breaking the stigma surrounding mental health issues.
