With the ongoing investiagtion of the leader of the Economic Freedom Fighter EFF Julius Malema’s deputy Floyd Shivambu and his brother Brian Shivambu over role in VBS heist, another more devasting scandal has emerged and this time it is directly linked to Malema’s family.
Malema cousin Matsobane Phaleng has been allegedly reported to have benefited illegally from the controversial VBS funds.
The opposition leader’s cousin was 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.
Documents indicates payments range from R1m in June last year to R500 000 in February this year.
More updates shortly.