WATCH | Explainer: Julius Malema's links to VBS 'slush fund'

14 October 2019 - 18:12 By Zama Luthuli

A "fraudulent" application for a home loan with VBS Mutual Bank has put EFF leader Julius Malema in the spotlight. 

Records obtained during an investigation by the Sunday Times show that a company called Santaclara Trading received millions of rand from Malema's lawyer Ian Levitt, as well as other companies that have done work with the Limpopo government.

It is uncertain whether the "slush fund" allegedly benefits Malema alone or the EFF itself. Malema has denied any "relationship with Santaclara", but has confirmed having a relationship with the director, who is his cousin.

EFF deputy president Floyd Shivambu, through his company Grand Azania, also allegedly received R1.1m from VBS. Furthermore he allegedly received R3.3m from a company belonging to his brother, Brian Shivambu - a company which has been linked to VBS.


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