Malema won’t reveal financial details of trust

2011-07-25 13:31

The ANC Youth League maintains that Julius Malema is a private person and therefore will not reveal the financial details of his controversial Ratanang Family Trust to the media for scrutiny.

This is despite South Gauteng High Court Judge Colin Lamont ruling on Saturday that Malema is a public person.

“Intrusion into his private life is warranted,” said Lamont.

He was dismissing Malema’s urgent application to gag City Press from running the story about the trust, which may be the source of funding for his lavish lifestyle.

Briefing the media at Luthuli House earlier today, the league’s secretary-general Sindiso Magaqa, deputy president Ronald Lamola and treasurer-general Pule Mabe accused the media of spreading lies about Malema in an attempt to derail the young lions’ plans to nationalise mines and expropriate land without compensation.

According to the City Press report on Sunday, a businessman claimed that he had deposited R200 000 into the trust’s bank account after Malema facilitated a government tender for his benefit.

He further claimed that there are at least 20 other business people who do the same.

But Mabe disputed this, saying it was all lies and that “the money (R200 000) had never made its way to the Ratanang Family Trust”.

He dared anyone which evidence of wrongdoing on the part of Malema to approach the relevant authorities.

He said although Malema was a public figure his financial affairs remained a private matter.

He claimed that Malema was not the only trustee, but refused to reveal names of other trustees.

Magaqa told City Press: “The media can write until they are pink in the face. It’s all nonsense”.

He said the trust was not secret as reported in the media.

“The Ratanang Family Trust is registered with South African Revenue Services and is tax compliant.

“If there is any wrongdoing on the part of the trust, ANC Youth League president (Malema) is open and ready for investigations by SARS and any other law enforcement agencies,” he said.

Malema was absent from the briefing. When journalists asked why he was not there to defend himself, Magaqa angrily responded: “It is none of your business”.

Mabe said the media was trying to isolate Malema from the league’s leadership.

Meanwhile, as the result of the City Press’s expose, Malema fans have formed a group called “Friends of Julius Malema” which assures him that “he will never stand alone”.

According to the group’s website, “The Friends of Julius Malema will serve to support him during this rightwing media onslaught”.

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