Malema denies funding lifestyle with VBS money: ‘I bought Gucci before VBS’

Image credit: Twitter/Economic Freedom Fighters

Economic Freedom Fighters (EFF) leader Julius Malema has denied funding his lifestyle using money from the collapsed VBS Mutual Bank.

He was speaking outside the Hawks’ offices in Pretoria on Tuesday.

He said he has always bought fancy clothing with his own money.

Louis Vuitton, Gucci – I’ve worn it before. I don’t wear it now. I make no apology about it. I don’t buy it with VBS money. I bought Louis Vuitton and Gucci before VBS.

Julius Malema

Allegations in Daily Maverick report

Malema was reacting to a weekend report in the Daily Maverick by investigative journalist Pauli van Wyk.

Van Wyk claimed that Malema was using a bank card linked to his cousin Matsobane Phaleng’s company, Mahuna Investments.

She claimed the company got about R5.3 million from VBS.

According to her, the card’s transactions closely matched Malema’s movements, which she verified on EFF’s social media accounts.

Van Wyk alleged that Malema bought fancy clothing and spent money at 2018’s Durban July as well as a party venue in Polokwane.

All of this amounted to R900,000 in the month of July 2018, she alleged.

‘My brothers are with me’

However, Malema said Mahuna Investments only got money from Sgameka, a company belonging to EFF Deputy President Floyd Shivambu’s brother Brian Shivambu.

He also suggested that the card transactions were not made by him, but by his “brothers” who are wherever he is.

The EFF leader said Durban July and Polokwane party venue payments were his brothers’ business transactions.

Malema said he will not take any legal action against Van Wyk because he “doesn’t have money for that.”

He added that he’s treating van Wyk as a “politician,” not a journalist, saying her allegations are “fabrications.”

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