{"id":237501,"date":"2012-12-09T12:36:00","date_gmt":"2012-12-09T12:36:00","guid":{"rendered":"http:\/\/www.ghanamma.net\/2012\/12\/malema-spent-r300k-on-designer-clothes\/"},"modified":"2012-12-09T12:36:00","modified_gmt":"2012-12-09T12:36:00","slug":"malema-spent-r300k-on-designer-clothes","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2012\/12\/09\/malema-spent-r300k-on-designer-clothes\/","title":{"rendered":"Malema spent R300k on designer clothes"},"content":{"rendered":"

2012-12-09 14:36<\/span><\/p>\n

Johannesburg – Expelled ANC Youth League president Julius Malema<\/a> allegedly used the Ratanang Family Trust for his own benefit, the Sunday Independent has reported.<\/p>\n

Almost R6m of the money deposited into the Ratanang Family Trust bank account was paid out, and Malema was apparently the sole signatory, according to a PricewaterhouseCoopers forensic audit report.<\/p>\n

According to the newspaper, the report found that “R5.7m of the money deposited into the Ratanang Family Trust bank account was paid out by way of 166 cheques”.<\/p>\n

The report was authored by auditor Trevor White, for the National Treasury, and had been shared with the Anti-Corruption Task Team, which includes the Hawks, the Asset Forfeiture Unit, the Special Investigating Unit, and the National Prosecuting Authority.<\/p>\n

White’s opinion was that the Ratanang Family Trust was set up by Malema as a conduit to channel money, which was received “in many instances” from contractors doing work for the Limpopo government.<\/p>\n

The object was to disguise or conceal the source of the funds.<\/p>\n

Malema appeared to have used the funds for his own benefit, spending nearly R380 000 on designer clothes, and transferring over R200 000 to his personal account.<\/p>\n

The trust was established to benefit his son, the newspaper reported.<\/p>\n

– SAPA<\/p>\n<\/p>\n

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2012-12-09 14:36 Johannesburg – Expelled ANC Youth League president Julius Malema allegedly used the Ratanang Family Trust for his own benefit, the Sunday Independent has reported. 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