'R1.8 million of the illicit VBS funds went to the EFF and Julius Malema'

22 November 2018 9:37 AM

It seems the EFF has been caught with its hands in the cookie jar after weeks of denying any links with VBS Mutual Bank.

An article in the Daily Maverick has provided proof of a link between Malema and more than a million rand that was syphoned off from the bank.

Investigative journalist Pauli Van Wyk explains how Julius Malema personally benefitted from the systematic raiding of VBS bank.

Read: 'VBS stolen money bought the most useless things like Ferraris and helicopters'

Through two front companies, the EFF and Julius Malema, personally and in the capacity of the company derived direct benefit from the stolen funds. We have traced over 1.8 million directed to the EFF which included the funding for their party anniversary in 2017.
— Pauli Van Wyk, investigative journalist

About R430 000 went to a luxury house in Sandown, Johannesburg and the house is registered in the EFF's name and it is a house that Julius Malema has lived in for a very long time.
— Pauli van Wyk, investigative journalist, Daily Maverick

To hear the rest of the conversation with Pauli Van Wyk, listen below:

Written by: Lengwadishang Ramphele

[LISTEN] Pauli Van Wyk details how Malema benefited from VBS looting

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Journalist at Daily Maverick’s Investigative Team Scorpio, Pauli Van Wyk details how funds were channeled to Malema and his party.

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