- Julius Malema's cousin Matsobane Phaleng allegedly received shady payments from Brian Shivambu
- The payments are linked to the looting of the VBS Mutual Bank
- Malema has distanced himself from Phaleng after the payments came to light
The VBS Mutual Bank drama seems never-ending. And now Julius Malema's family is linked with the bankrupt bank.
It earlier came to light that Floyd Shivambu's younger brother Brian made suspicious-looking payments to Malema's cousin Matsobane Phaleng.
The payments allegedly came from the looting of VBS Mutual Bank and total over R5 million. The series of payments happened between June of 2017 and February of 2018 and were made from Brian's Sgameka Projects to Matsobane's Mahuna Investments.
According to a report by the Mail & Guardian, there are 3 sources who confirm these shady payments. It's unclear what the payments were for.
Brian's involvement has made news headlines when it was reported that he received R16 million in gratuitous payments from VBS.
Briefly.co.za reported that Brian shared about R10 million of that money with his older brother who happens to be the deputy leader of the EFF Floyd Shivambu.
These payments between Sgameka Projects and Mahuna Investments are now under investigation. Neither of the men has commented on the payments yet.
Julius distanced himself from the payments, saying his cousin must answer for himself. He did, however, make a 'statement' on social media that hints at the miscalculation of the report that makes the EFF look very bad:
It is also reported that neither Sgameka Projects nor Mahuna Investments were legally registered for tax.
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