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

The Daily Maverick has detailed in a report by its investigative journalism unit, Scorpio, how EFF leader Julius Malema and his deputy Floyd Shivambu directly benefited from the looting of VBS Bank.

According to the online publication the EFF received more than R1.8 million from VBS through three fronts.

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.

Karima Brown sat down with journalist at Daily Maverick’s Investigative Team Scorpio, Pauli Van Wyk to find more on how funds were channeled to Malema and his party.

Through various schemes, it was literally a funnel where money went from VBS to certain select companies. These companies were either fronts in themselves or they were slush funds. I f you look at the law, you would define it as a method of putting some purported distance between the intended source and the intended receiver of the money.

Pauli Van Wyk, journalist at Daily Maverick’s Investigative Team Scorpio

What happened with Mr Malema and the EFF is that they injected one to two companies in between VBS and the origin of the funds and between themselves. So there were two front companies operated by Mr Malema's cousin and by Mr Floyd Shivambu's brother Brian.

Pauli Van Wyk, journalist at Daily Maverick’s Investigative Team Scorpio

It was difficult to get the information for the investigation we had done because the sources were so extremely scared and you had to piece together this puzzle from 50 different sources.

Pauli Van Wyk, journalist at Daily Maverick’s Investigative Team Scorpio

Scorpio apparently has proof in the form of WhatsApp messages and bank statements.

R 1.8 million in total is not the only funds that went to the EFF, there are more. For various reasons the current investigation only focused on several tranches of payments but there is definitely more money that we haven't spoken about yet.

Pauli Van Wyk, journalist at Daily Maverick’s Investigative Team Scorpio

Click on the link below to listen to the full conversation....


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