The transactions were not hidden and were not very hard to trace because they were not paid into an offshore account in a bid to his them, and the goods which were purchases using the funds were not paid for from company accounts in an offshore account t to make them look like gifts. Then R100,000 was transferred into Floyd Shivambu account in the same day.
On 5 October 2017, R1.2-million of VBS loot was deposited into Sgameka Projects and a day later R200,000 was paid into Grand Azania. On 10 July 2017, Sgameka Projects paid R600,000 to Grand Azania, wherby R50,000 was then transferred into Shivambu’s FNB bank account the following day. Investigators discovered that the very first amount of money was deposited in 2017 and it was amounting to R5-million, by June the same year, Sgameka Projects deposited R400,000 into Shivambu’s FNB Private Wealth bank account all these funds seemed to have been deposited hours, days and weeks apart without any form of services or goods being exchanged. Hundreds of thousands of rands were paid out on a regular basis from VBS Mutual Bank into the companies which are registered under Brian Shivambu and Floyd Shivambu's FNB Private Wealth Bank Account, however it is believed that he was merely a front for his brother's operations. R1,660,000 was further paid into Shivambu’s FNB Private Wealth bank account, about R1.84-million was paid from VBS Mutual Bank through two front companies into Shivambu’s bank account. Sgameka transferred R5.16-million to Grand Azania in a span of two years before VBS scandal went burst, R180,000 was paid into Shivambu’s FNB Private Wealth bank. Floyd Shivambu stole the VBS money through the VBS Mutual Bank and funnelled approximately R15.2-million in cash through three entities to Sgameka Projects.
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