Probe Into Julius Malema Lifestyle Suggests Links To Stolen VBS Millions

iafrica.com

- iafrica.com | a week ago

A new spotlight has been cast on Economic Freedom Fighters leader Julius Malema’s lifestyle after fresh revelations suggest it’s being bankrolled by millions of rand siphoned off from the collapsed VBS Mutual Bank.

Daily Maverick’s investigative unit Scorpio is today reporting how more than R5 million was channeled from VBS into an account the red beret leader allegedly used as a slush fund. The Reserve Bank placed VBS under curatorship in March last year, while several of the bank’s former directors have recently been sequestrated.

Designers suits, hotel stays, expensive liquor and even school fees: these are just some of the expenses being directly linked to Malema.

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