- A new report has claimed to possess the details of how EFF leader Julius Malema siphoned funding from VBS
- Explaining an alleged web of hidden accounts before it eventually made its way to the Red Beret boss
- Malema has claimed the documents used in the investigation leading up to the report was obtained through illegal means
EFF leader Julius Malema has claimed the documents used in a recent report detailing allegations of suspicious financial activities.
A TimesLIVE report claimed that Malema had personally benefited from looted VBS Mutual Bank funds, companies that did business with the Limpopo government and the party's lawyers.
Santaclara Trading, registered to Malema's cousin Jimmy Matlebyane, reportedly received over R4 million in questionable payments over the course of seven months, alleged the Sunday Times.
These massive payments from dubious sources were then siphoned off into three different bank accounts according to the report, namely:
- An upmarket Soweto restaurant, SUD, which belongs to Malema's cousin Tsholo Malema
- The Munzhedzi Family Trust ( named after Malema's son)
- Marimba Investment Trust
The funds transferred to the Munzhedzi Family Trust then went on to purchase an EFF owned property in Sandton for R5.5 million.
The EFF leader slammed the claims, adamant that the information used in the probe had been obtained by illegal means:
"You seem to have illegally had access to confidential information. You tell me how you gained access to this information [and] if it is justifiable and legal, I will answer your questions. Hold us accountable with legally obtained documents, come back to me when you are prepared to share with me where you got this confidential information. Where did you get the confidential information?"
Briefly.co.za reported that both Malema and EFF deputy Floyd Shivambu had long denied claims that they benefited from the VBS looting, despite mounting reports detailing theories of how the funds were moved.
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