Malema using Ratanang Family Trust for own benefit: report
Image by: MIKE HUTCHINGS / REUTERS
Expelled ANC Youth League president Julius Malema allegedly used the Ratanang Family Trust for his own benefit.
The Sunday Independent said almost R6 million of the money deposited into the Ratanang Family Trust bank account was paid out, and Malema was apparently the sole signatory, according to a PricewaterhouseCoopers forensic audit report.
According to the newspaper, the report found that "R5.7 million of the money deposited into the Ratanang Family Trust bank account was paid out by way of 166 cheques".
The report was authored by auditor Trevor White, for the National Treasury, and had been shared with the Anti-Corruption Task Team, which includes the Hawks, the Asset Forfeiture Unit, the Special Investigating Unit, and the National Prosecuting Authority.
White's opinion was that the Ratanang Family Trust was set up by Malema as a conduit to channel money, which was received "in many instances" from contractors doing work for the Limpopo government.
The object was to disguise or conceal the source of the funds.
Malema appeared to have used the funds for his own benefit, spending nearly R380 000 on designer clothes, and transferring over R200 000 to his personal account.
The trust was established to benefit his son, the newspaper reported.
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Posted 166 days agofrans.van-erk1
No serious, for the noise mr Malema made for the ACN (African Costa Nostra) it is really a small reward for his efforts.
But, it would be nice to see the whole bunch of looters into jail.
MxolisiSdenge
RAYMONDFOURIE
Posted 166 days agothis is the dungbeatle that stands on soapboxes and tell the poor blacks to fight for their rights.
this bloke has such an low IQ he does not even understand most of the times what he is actually saying,he heard a bell ringing but he does not know where it is.this bloke is a hypocrate,he is so hollow between his ears,if he shines a torch in the one ear the light beam comes out straight through the other ear.corrupt,lier,greedy,self rightious,has an evil spirit in him
sistachick
Posted 166 days agotiredofuselessness
Posted 166 days agoI don't normally wish bad things on beings...In Malema's case I believe it is justified.
Free fall you rubbish Malema. The harder the fall the better.
tiredofuselessness
Posted 166 days agoI don't normally wish bad things on beings...In Malema's case I believe it is justified.
Free fall you rubbish Malema. The harder the fall the better.
And I hope your Larney lawyers milk you for every Cent you have stolen and you end up in the gutter talking sh1t to your attentive Vermin audience.
i_stub_born
"""""The bank statements also detail transfers made to several high-end boutique stores between April 2009 and February 2010, totalling more than R116 000. The stores included Guess, Armani, Dunhill and Louis Vuitton.
However, the Vigano Boutique store received more than double what was spent at other stores, according to White’s analysis of seven trust cheques. Malema wrote R40 000 and R50 000 cheques to Vigano in one day."""""""""from IOL news
....Hey!, but 'whiteys', 'oreos', and 'brown-sugars" are all jealous because of a 'black-man's success"........
....I am also jealous of the hidden fortunes left by Al Capone.......