Further links have emerged tying Economic Freedom Fighters (EFF) leader Julius Malema to money allegedly stolen from the defunct VBS Mutual Bank, this time through a slush fund allegedly used to channel ill-gotten gains from the bank.
On Sunday morning, The Sunday Times reported that an investigation of the fraud at the collapsed financial institution led to the discovery of an alleged fraudulent bond application in the name of one of Malema’s relatives.
A bank account linked to that company is believed to be the conduit for the stolen funds.
Investigators probing the fraud at VBS Mutual Bank came across a bond application by Malema’s cousin, Polokwane based DJ Phumi Matlebyane.
When he applied to VBS for a bond to buy a R3.2million house in Polokwane, he stated his income was a mere R5,000, but this was fraudulently changed to Sate that he earned R155,000 a month.
The company he listed as being registered in his name is called Santaclara, and it is into this company bank account investigators found numerous questionable payments.
Among the deposits was R500,000 from EFF deputy Floyd Shivambu’s company, Grand Azania. That company is alleged to have received over R4 million in funds from VBS Bank.
Malema confirmed Santaclara was registered to his cousin, but denied he had any links to the company.
He did however say that no funds from VBS were channelled into the company account.
A month ago the EFF’s leader strongly denied he received or spent any money from the collapsed bank.
Malema was speaking outside the Hawks offices in Pretoria where he met with investigators to provide a warning statement in a firearm-related case.
At the time Daily Maverick’s investigative unit Scorpio reported about how more than R5 million was allegedly channelled from VBS bank into an account the leader of the red berets used as a slush fund.
The ‘Commander in Chief’, as he is sometimes called, 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,” he said.
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