Sunday, 13 October 2019 12:28

A "fraudulent" application for a home loan with VBS Mutual Bank has cast light on what appears to be a slush fund to channel funds to EFF or its leader Julius Malema.

Sunday Times reported that an investigation of fraud at VBS led to the discovery of an alleged fraudulent bond application in one's of Malema's cousins.

When he applied for a bond to buy a 3.2 million house in Polokwane, his income was a R5000 but it was fraudulently changed that he earned R155000 a month.

The company he listed is called Santaclara and its the company bank account the investigators found numerous dodgy payments. Among the deposits was R500000 from EFF deputy president Floyd Shivambu's company, Grand Azania.

However Malema's confirmed Santaclara was registered to his cousin but denied he had links to the company and he has denied he received or spend any money from the VBS Mutual Bank.