'Malema backs out of deal for R3.5m farm in Limpopo'

ANC Youth League leader Julius Malema has allegedly backed out on a deal to buy a R3,5m farm near Polokwane, in Limpopo, according to a report.

"I believe it is because of all the rumours [of his secret trust]," Dries Kotzé, the owner of the farm reportedly told Beeld newspaper.

He said that Malema had cancelled the purchase earlier this week.

Malema had already allegedly paid a R800 000 deposit on the 139 hectare farm.

Kotzé said Malema made an offer for R1.5 million for the farm four months ago, but he had refused to sell below his asking price.

Kotzé's neighbours said the transaction was still happening and that the news of Malema backing out was only a way to try and deceive the media.

ANCYL spokesman Floyd Shivambu, when contacted by Sapa, refused to comment on the alleged sale.

"Do not bother us with stuff like this, we will only comment on political issues," he said.

The City Press, last weekend published a report on a secret family trust, that Malema had allegedly used to finance his lavish lifestyle.

According to the newspaper, the Ratanang Family Trust was registered at the Office of the Master of the High Court in Pretoria in 2008, just weeks after Malema was first elected president of the youth league.

Opposition political parties have also called on the SA Revenue Services to investigate his wealth, claiming it is not compatible with his reported R25,000 a month salary.