EF-MP Mbuyiseni Ndlozi destroyed the court report on large-scale looting in VBS Mutual Bank, in which the party's brother-in-law's brother, Floyd Shivambu, participated.
But while Ndlozi suggested that the bank was awarded because it was a black property, the deputy chairman of the South African Reserve Bank (SARB) Kuben Naidoo warned that "if you get a bank, we will come for you", regardless of whether "again black or white.
Naidoo and lawyer Terry Motau, who developed the report together with Werksmans Attorneys, announced on Wednesday the Permanent Commission on Finance (SCOF).
A report commissioned by SARB, entitled "The Great Bank Heist", complains that Shivambu's younger brother, Brian Shivambu, was one of 27 suspects to receive money from the bank in a "plunder system" involving 1.8 billion.
It is said that Brian Shivambu received R16m. A few days later, Daily Maverick reported that from this R16m, about R10m he went to Floyd Shivambu and R1.33m to EFF.
Shivambu previously described the allegations as "madness" and "madness."
However, the EFF showed that there were payments between the Shivambu brothers.
READ: VBS has robbed the "worst" species, Hawks interviewed 65 witnesses
Parliament's ethical committee examines the main whip of the party. He is a permanent member of the EFF at SCOF, but he did not participate in the Wednesday meeting. Ndlozi was in his place.
At the beginning of the meeting, the chairman of the Yunus Carrim committee said he received a letter from Shivambu in his "typically naughty style".
"As a member of the Central Committee of the Communist Party of South Africa (SACP), would you agree that you are in conflict, given that you have used a subsidy of three million rand (R3m) from VBS Mutual Bank and Vele Investments?" Shivambu wrote.
"We ask the president to answer with honors and honesty, and we will ask the president to deal with the matter properly, taking into account his urgency and sensitivity."
This was the last paragraph that apparently enraged Carr.
"Please, go again," please "answer honestly and honestly." As if I did not want to – and YOU (of all people!) You must remind me of my duty! Well, let me tell you: next time you write a letter containing such an order, I will NOT answer you. I have instructions from the Speaker, "Carrim replied.
"My exact answer to your question: no, for sure, no, I do not know anything about this donation and no, certainly not, I did not argue!"
Carrim said he checked with the secretary general of SACP, Blade Nzimande, and his treasurer, Joyce Moloi-Moropa, and they both said that the SACP did not receive money from VBS or Vele Investments, as SACP general secretary Solly Mapail publicly stated.
Carrim told the commission that he had submitted the letter to Shivambu and his own, and informed the speaker Baleca Mbete and his main whip Jackson Mthembu.
He suggested that the commission goes on.
Ndlozi said he was "critical of disrespect" based on Carrim's responsibility.
"I do not think it is wise to trivialize him," said Ndlozi.
WATCH: "VBS raiders, pay back the money" – DA, EFF in the war of words
David MP, David Maynier, said that Ndlozi's tactics were that the best defense was the attack.
Carrim smiled and Ndlozi said, "So DA defends the SACP defense?"
"No," Maynier said. "DA attacks EFF."
The Commission moved and listened to the presentation on the Naidoo and Motau reports.
When the members of the committee had the opportunity to comment on the presentation or ask questions, Ndlozi said: "I am not convinced by the Motau report."
"I think it makes it very difficult to read a legal document, sometimes there is too much fiction."
Maynier praised Motau for "persuasive writing" in the report, leading Carrim to jokingly ask the communications officer of the communications commission for a statement stating that Maynier had once praised someone.
ANC MPs also welcomed the report.
Ndlozi also questioned why some people were mentioned in the report, for example Brian Shivambu.
Motau said he understood why Ndlozi raised the issue of the Shivambu name. He said that if Shivambu would go to court, the question would be raised.
"The case will be resolved in court," said Motau.
In his letter, Motau said that what happened in the bank affected the poorest of the poor and wrote a report to "be understood by people on the street."
"If this is fiction and is the basis for reconsideration, let the court decide."
"I think you are dishonest," said Ndlozi. "It's a provocation, the poor can read!"
"On what legal basis would you put the name of the person in the report, which suggests that he is a looter?"
At the press conference following the publication of the report, the EFF suggested that they were the target of a plot led by the Minister of Treasury, Pravin Gordhana and treasury officials.
READ: VBS scandal: Prime Minister Limpopo, who is trying to explain why no action was taken by mayors, politicians
Ndlozi wanted to know whether Motau met with Gordhan while working on the report, or with Treasury officials such as deputy director general Ismail Momoniat.
"I have not met with Pravin Gordhan to discuss the report," Motau replied, adding that he had not seen Gordan for a long time. He said he must report during the investigation, and the treasury officials will be present at the meetings.
Carrim said: "So you say that neither Pravin Gordhan nor Ismail Momoniat had any influence on the report?"
Motau answered in the affirmative.
Momoniat was present at the meeting. Earlier this year he was at the receiving end of the racist rim by Floyd Shivambu.
"Lifestyle audits, we all talk about it, it must be done," said Momoniat.
Later, Ndlozi played the race card. After the Jastrzębiów and the authorities of the National Prosecutor's Office confirmed that they were investigating the case, but could not say when the arrests were made, Ndlozi said: "I have no doubt that there will be a quick criminal investigation."
He said the matter was publicized by "mainly media belonging to the White House".
"Law enforcement is very fast on black," said Ndlozi.
"Everyone else can fail."
"[If] black people turned out to be a failure, you buried them. "
"For the first time, VBS has problems, and our first reaction is to kill them."
He said that he maintained the finance of the "lilac-white" industry.
Naidoo said that the scam at the bank in Regal Bank was found for the last time.
"We've been pursuing Jeff Levenstein," said Naidoo. Levenstein, founder and CEO, has been sentenced to eight years for cheating. The bank collapsed in 2001 and was liquidated in 2004.
"We do not care if you are black or white if you get a bank to come to," said Naidoo.