Malema’s farm nationalised

TTP4FARM20 19 03 2013 18 03 06 763  300x190 Malemas farm nationalised

Its been a while since we’ve updated this site and during that time our favourite comrade has rise and fallen and well, continues to fall harder then ever.

While insisting on nationalizing mines and farms, it seems pretty ironic that his own farm has been ‘nationalized’ by the government for a variety of tax problems

this from TimesLive

julius Malema’s farm has been nationalised. The Asset Forfeiture Unit seized his Limpopo farm yesterday after he failed to oppose a Pretoria High Court order granted to SARS in December.According to National Prosecuting Authority spokesman Medupe Simasiku, the unit was granted a forfeiture order for the farm on Monday. The registered owner is Gwama Properties, a business of Malema confidant Lesiba Gwangwa.

The NPA alleges that the farm belongs to Malema.

“It is noteworthy that the unit’s application was opposed neither by Mr Gwangwa nor his company, Gwama Properties, nor by Mr Malema, who is alleged to be the real owner,” Simasiku said.

The farm was part of “a money-laundering scheme”, he said.

Granting a freeze order on the farm on December 5, the high court ruled that the farm was bought with funds acquired through theft, fraud and corruption, or that the property had alternatively been used to launder money, Simasiku said.

The SA Revenue Service applied to have the expelled ANC Youth League leader’s assets sequestrated to recoup a R16-million tax debt.

According to SARS’s court application, Malema’s Ratanang Family Trust was to purchase a farm, Schuilkraal, but it was instead purchased by Gwama Properties.

According to the founding affidavit of SARS senior manager for tax and customs enforcement investigations Pieter Engelbrecht, “. the deed of sale was cancelled by the trust and a new deed of sale was entered into, in terms whereof the property was to be purchased for the same purchase consideration by Gwama Properties, the shareholder being Guilder Investments, and which entity is linked to L Gwangwa”.

Engelbrecht said Malema “consented in writing that the monies deposited to the transferring attorneys’ trust account, in lieu of the purchase consideration on behalf of the trust, may be used as payment of the purchase consideration on behalf of Gwama Properties”.

Malema is charged with fraud and racketeering in connection with the allegedly irregular awarding of a R52-million Limpopo roads and transport tender to On-Point Engineers, of which Gwangwa is CEO.

Public Protector Thuli Madonsela found last year that Malema’s Ratanang trust was paid more than R2-million by On-Point Engineers.

It is not known whether Malema will ask the court to be allowed to file his affidavit opposing the sequestration. He had given notice of his intention to do so but missed the deadline.

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4 Responses to “Malema’s farm nationalised”

  1. Malema must set example to the politics leaders. It good for anc taking serious discipling agaist those like to put “not organization only” to risk also the future of the country

  2. Hate this malema

  3. Hope he does not survive with his eff party