Malema’s cousin implicated in financial scandal

The times are certainly not looking good for radical leader of the Economic Freedom Fighter Julius Malema.

Shortly after making desperate and frantic efforts to protect and shield his deputy Floyd Shivambu and his brother Brian Shivambu, another more devasting scandal has emerged and this time it is directly linked to Malema’s family.

The EFF leader’s cousin Matsobane Phaleng has been uncovered to have benefited illegally from VBS funds.

CIC’s  cousin has been implicated in irregular payments of almost R6m believed to emanate from the plundering of VBS Mutual Bank.

The payments were reportedly made from Sgameka Projects – a company owned by Brian Shivambu, the brother of EFF deputy leader Floyd Shivambu – to Mahuna Investments, which is owned by Malema’s cousin, Matsobane Phaleng.

READ: EFF in another R12 billion scandal

Documents indicates payments range from R1m in June last year to R500 000 in February this year.

Efforts by News360.co.za   to get a reaction from the EFF leader  has not been successful.

More updates shortly.

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