Julius Malema trust is no secret - ANCYL

2011-07-25 12:30
Johannesburg - The trust reportedly used to fund ANC Youth League president Julius Malema's lifestyle is no secret, league secretary Sindiso Magaqa said on Monday.

The trust was used for various charitable causes, he told a media briefing in Johannesburg.

"The trust is registered with the master of the high court and it is public," he said.

On Sunday, the City Press reported that Malema was the sole trustee of a "secret" family trust, registered in the name of his 5-year-old son, which he allegedly uses to finance his lavish lifestyle.

This emerged a week after reports that Malema was building a R16m house in Johannesburg's upmarket Sandown suburb. Responding to the reports last week, Malema said how he funded his lifestyle was nobody's business.

Ratanang Family Trust

According to the City Press, the Ratanang Family Trust was registered at the Office of the Master of the High Court in Pretoria in 2008, just weeks after Malema was first elected president of the youth league.

Citing two “independent, well-placed sources with knowledge of Malema's financial dealings”, City Press says the trust is being used “by the youth leader and his benefactors” to fund his lifestyle.

“Thousands of rands” are deposited into the account on a regular basis, says the report, quoting the sources.

"Frequent deposits are being made from different banks, especially in Limpopo.”

City Press said Malema had denied that the trust was being used to launder illicit funds, but “declined to divulge its purpose or bank balance”.

On Saturday, Malema sought an urgent court interdict to stop City Press publishing a report on the trust, but this was dismissed by Judge Colin Lamont in the South Gauteng High Court.

Lamont ruled that Malema was a public figure and that publishing the story was in the public interest. Further, he had found the evidence contained in the City Press story to be “credible”.

Malema's legal team reportedly argued that his public image could be seriously damaged if details of the trust fund were published.

The City Press had opposed the application.

Opposition parties have called on the SA Revenue Service to investigate his wealth, claiming it is not compatible with his reported R25 000 a month salary.

'Private life remains private'

On Sunday, the DA said it would write to Public Protector Thuli Madonsela, requesting her to investigate the latest allegations levelled against Malema.

The ANC came to Malema's defence saying his "private life remains private". Spokesperson Brian Sokuto said he was neither a member of Parliament nor a government official so it was not unethical for him to be involved in business.

AfriForum, an Afrikaner lobby group suing Malema over his singing of a liberation struggle song containing the words "shoot the boer", lodged a criminal complaint against the youth league leader at the Brooklyn police station in Pretoria on Sunday.

A corruption case was opened against him in accordance with the Prevention and Combating of Corrupt Activities Act of 2004.

Writing on the blog, Constitutionally Speaking, legal expert Professor Pierre de Vos said Malema could face up to 15 years in jail if convicted in terms of the Act and his assets could be confiscated.

De Vos wrote that the Act criminalised almost "all imaginable forms of corruption in rather broad terms". This made it easy, "in theory", he said, to secure a successful prosecution in a corruption case.

He further wrote that the allegations contained in the City Press report "completely destroy Malema's credibility".

This could be restored by Malema suing the paper for defamation. If he chose not to do this, De Vos believed it would indicate that he was corrupt.

- SAPA
Read more on:    ancyl  |  julius malema  |  corruption  |  politics
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
449 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
/Music
Traffic & Train Alerts
Traffic
Newlands 18:52 PM
Road name: M3 Southbound

DELAYS towards Rhodes Avenue

Cape Town 18:49 PM
Road name: Nelson Mandela Boulevard Outbound

DELAYS approaching Hospital Bend

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Save up to 30% off top fragrances

Get mind blowing savings on selected fragrances. Offer valid while stocks last. Shop now!

Up to 40% off fashion accessories

Save up to 40% on selected handbags, purses, watches, jewellery and more. Offer valid while stocks last. Shop now!

Save up to R2000 on top electronics

Get every day mind bowing savings on top electronics. Offer valid while stocks last. Shop now!

Save up to 50% on Women’s month treats!

Celebrate the awesome women in your life with awesome treats like beauty products, fashion accessories, bestselling books, electronics and more. Offer valid while stocks last. Shop now!

Up to 60% off - clearance sale!

Save up to 60% on appliances, books, electronics, toys, movies and more. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

Today you may want to bond with your children and need to connect to your imaginative and playful side. It may be that you are...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.