SARrugby.com

 Ex Iafrica

Expelled ANC Youth League president Julius Malema allegedly used the Ratanang Family Trust for his own benefit, the Sunday Independent reported.

Almost R6-million 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.

According to the newspaper, the report found that "R5.7-million of the money deposited into the Ratanang Family Trust bank account was paid out by way of 166 cheques".

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.

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.

The object was to disguise or conceal the source of the funds.

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.

The trust was established to benefit his son, the newspaper reported.

Bye bye Juju but you are a small fish in the scheme of things.

Beeno

I thought this was a rugby forum and politics was taboo.   Be it is it may - this is only he tip of the iceberg.   What about the direct payments  made by contracting companies for the estimated R16 000 000 upgeade of his Sandton mansion?    Then there was also the Mugabe payment - to get his support in Mugabe's arguments with Khama and Zuma?   Anything less than $5 000 000 from Mugabe's endless diamond loot would be unthinkable and the amount paid would  be circa R40 million - just check foreign bank accounts as well..

I think the loot was nearer to R60 000 000 than to R6 000 000 - the latter amount being the pocket money for watches and designer clothes - as well as Blue Label Johnny Walker and imported French Champagne.   All that at the cost of the poor SA taxpayers.

Been..

Please bud delete this bullshit.

THis place is my haven... the last thing we want is some brothers coming on here and reacting towards any political commentry that has as much to do with rugby as Julius has to do with intellegence.

Well Mike the rugby is pretty quiet right now so an alternate topics can be of interest.

As for juju its difficult to think of anybody here in SA who has damaged the country and its poor more. However trying him for corruption is rich given there are so many bigger fishes. One thing though is that if he is convicted he can never become president. Now if any have little to be thankful about that will be something indeed.

hahahahhaha Chippo good one.

Okay lets leave ou juju out of the alternate topics!!!  

One thing that I cannot understand is that one starts a thread and suddenly there are some 65 views and 4 posts. Are we are being watched by a cloud of witnesses perchance?