This as Malema and a group of journalists on Thursday discussed allegations levelled against the EFF’s deputy president Floyd Shivambu.

For several years now, since the emergence of the VBS scandal, the EFF and its party leaders, including Malema, have been questioned on their alleged involvement with VBS where millions of taxpayers' money were stolen from the bank by means of fraud and corruption. 

If Malema’s predictions are anything to go by, this means municipal managers in four of North West's municipalities, which illegally invested a total amount of R314 million, would be arrested - along with the nine people which have already been arrested by the Hawks so far. Malema emphasised that allegations regarding a credit card, alleged to have been used in his presence for his benefit at various events, including one in Vryburg in the North West, are not true and there is no proof linking him.

“I want to tell you now that if there is any municipality that says we put money into the VBS because Malema said we must do that - I will resign from all positions in the EFF without any hesitation,” he adds. Malema said he had never avoided any court proceedings relating to the Polokwane “On-Point Investments” tender matter before the court.

Hawks spokesperson Hangwani Mulaudzi recently announced that the suspects face several (5 patterns of) racketeering activities in contravention of the prevention of organised crime Act 121 of 1998, (POCA), twelve (12) counts of theft, seven (7) counts of fraud, fifteen (15) counts of corruption in contravention of the Prevention and Combatting of Corrupt Activities Act 12 of 2004, and seven (7) counts of money laundering (POCA). 

The Chief Executive Officer of the Prudential Authority of the South African Reserve Bank (SARB) revealed the matter after opening a criminal case. This followed the liquidity problems within the VBS Bank, which were placed under curatorship on 11 March 2018 in terms of the South African Banks Act, Act 94 of 1990. A report released by the SARB in October found evidence of wide-scale looting, fraud and corruption.

 OFM News