Investigations found that the EFF received over R1.8-million in illicit VBS funds. An additional R430,000 was also paid in three tranches towards a luxury Sandown property where Malema used to stay since 2012, a property which has recently appeared to have been bought by and registered under the EFF’s name.
According to reports, the funds flowing from VBS were channelled to Malema, his family and the political party he founded in 2014.
What the EFF has done is to identify psychology as a state of war - which psychological warfare. The majority of their voters are in the township and will accept their constituency uncritically. They also have the middle class voters which tend to be critical to some of their decisions.— Dr Ntsikelelo Breakfast, Political analyst
The Economic Freedom Fighters and its president Julius Malema benefited from the VBS Mutual Bank heist through a crude scheme run in a similar manner to the On Point Engineering corruption debacle of 2012.
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