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Malema Strongly Denies Involvement With VBS Mutual Bank

Malema e1553166824887 - Malema Strongly Denies Involvement With VBS Mutual Bank

Economic Freedom Fighters (EFF) leader Julius Malema has strongly denied he received or spent any money from the collapsed VBS Mutual Bank.

Malema was speaking outside the Hawks offices in Pretoria on Tuesday where he met with investigators to provide a warning statement in a firearm-related case.

On Monday, Daily Maverick’s investigative unit Scorpio reported about how more than R5 million was allegedly channeled from VBS bank into an account the leader of the red berets used as a slush fund.

Malema was unequivocal when asked whether he had spent VBS funds.

“It’s absolute rubbish and there’s nothing new about the Daily Maverick’s allegations. I’m not using Mahuna Investments’ money and it did not receive money from VBS,” Malema said.

He explained why his son’s name was referenced in one of the transactions made by the company account called Mahuna Investments.

“I once asked him to pay for the fees of a friend of my child who had not gone to school for six months because the parents could not afford. And asked him why is my son’s name written there, he said it was for easy reference because he was helping the family I said he should help.”

The EFF leader declined to comment on the firearm charge, saying he would only do so if the matter goes to court.


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