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

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

 
 
Traffic
Lottery
 
  • Wednesday Hout Bay - 15:52 PM
    Road name: Chapmans Peak Drive
    WEDNESDAYS - ROAD CLOSED between 10am and 3pm for Alien Vegetation Clearing, every Wednesday until July
  • Wednesday Cape Town - 15:50 PM
    Road name: Two Oceans Marathon
    SATURDAY - extensive road closures through the southern suburbs, south peninsula and Hout Bay area from 4am until 2pm for the Two Oceans Marathon event
 
More traffic reports...
 

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Escape winter, head to Mauritius

Escape winter by spending 7 nights in Mauritius' tropical bliss from R13 215 per person sharing. Includes return flights, airport transfers and accommodation. Book now!

Kalahari.com - shop online today

Get many eggs in one basket!

Gaming bundles: 2 Super Hits games for R99, 3 Disney games for R99 and more + exclusive accessory bundles only available on kalahari.com. While stocks last. Shop now!

25% off bestselling books!

The Real Meal Revolution by Tim Noakes, Jeffrey Archer’s Be Careful What You Wish for, Man’s Search for Meaning by Victor E. Frank and many more titles. Shop now!

Up to 25% off electronics

Buy top electronics and save up to 25%. Such as kalahari.com’s 1# selling product the gobii eReader, Patriot X Porter flash drive, Asus Nexus 7” 3G tablet, Samsung Galaxy SIII, Lenovo G580 Notebook and many more. Shop now!

DStv HD PVR Decoder now R949

The DStv HD PVR Decoder has further revolutionised the television experience with lifelike viewing, sharper images, more vibrant colours and precision picture quality. Now R949, save R550. Offer valid while stocks last. Shop now!

Up to 30% off appliances & homeware

Save up to 30% on appliances and homeware this Easter! 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

BlackBerry Curve 8520

Wi-Fi enabled With the BlackBerry Curve 8520 connect to your home...

From R1100.00

I'm shopping for:

Horoscopes
Aquarius
Aquarius

You may find yourself fascinated by something which could draw you in to obsessively exploring this subject in depth....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.