Malema linked to another company that had a VBS loan - report

bignewsnetwork.com

- bignewsnetwork.com | a month ago

13th October 2019, 23:10 GMT+11A "fraudulent" application for a home loan with the defunct VBS Mutual Bank has reportedly cast light on a slush fund, allegedly used to channel money to the EFF or its leader, Julius Malema.

According to the Sunday Times, the investigation into VBS and the money that was looted from the bank has led to the discovery of a bond application and a company linked to Malema's cousin, Phumi "Jimmy" Matlebyane. The newspaper reported that Matlebyane is the director of a company called Santaclara Trading that received deposits totalling millions of rand from Malema's lawyer, and other companies doing work for the Limpopo government and the EFF.

It is alleged that Malema's attorney Ian Levitt appears to have deposited R300 000 into the account in March 2017 alone.

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