The ANCYL's missing millions thread

[MickeyD]

For some time there has been rumours and allegations regarding the funding and the disbursement of these funds by the ANCYL, especially involving its investment arm, Lembede Investments.

Details are slowly starting to emerge...

ANCYL INVESTIGATES MISSING MILLIONS

JOHANNESBURG – The ANC Youth League (ANCYL) said on Thursday they were still investigating the millions of rands in assets which expelled President Julius Malema said the organisation owned.

The money is unaccounted for and the organisation has been investigating the issue for more than a year.

Mzwandile Masina, the convener of the national task team running the ANCYL, was asked on the Midday Report whether they are any closer to explaining where the money went or what it was spent on.

Masina said now that the organisation was clear from legal restraints, they would be meeting in the coming weeks to discuss the matter and take further necessary steps.

Operation of the youth league has been hampered since it was provisionally liquidated in November last year by the High Court, with it in the red to the tune of R15 million.

According to the court the debt was accumulated under the leadership Malema as a result of unsettled payments for a conference held in 2008 where he was elected.

Masina pointed out that after the provisional liquidation the Youth League had to attain permission from the courts in every decision they took.

The league's national task team coordinator Magasela Mzobe said the league was shocked by the provisional liquidation.

“If not contested it could have led to the liquidation of the African National Congress. We are therefore studying the verdict in order to determine our next step.”

Yesterday an application to have the ANCYL liquidated was withdrawn in the North Gauteng High Court in Pretoria after a last-minute settlement was reached with an events company.

The league was due to motivate why it should not be liquidated today but its legal team announced a settlement with Z2 Presentations and Palanquin Hospitality Management.

The ANCYL owed the companies around R17 million in bills for a 2008 elective conference but it would not disclose how much it had agreed to pay in the deal.

Masina says the agreement is confidential and the ANC did not give them any money.

“The matter was settled out of court and it doesn’t necessarily mean that there was payment involved. So we want to keep the nature of the deal confidential.”

He described the liquidation application as the league’s biggest hurdle and says it could now return to organisational work.

- Prelene Singh
http://ewn.co.za/2014/03/27/ANCYL-investigates-millions-of-rands-unaccounted-for

 

[MickeyD]

ANCYL answers on missing millions - sort of

Johannesburg - The ANC Youth League’s investment arm, Lembede Investments, was legally sold to advocate Dali Mpofu, league co-ordinator Mzwandile Masina has revealed.

Addressing journalists in the ANC’s headquarters, Luthuli House, about the league's upcoming elective conference from 24 to 28 September in Gauteng, Masina was asked about the probe into the league’s missing millions.

"Everyone was engaged about Lembede matters, including [former treasurer Pule Mabe]," he said.

Mabe, who is facing fraud charges, is one of the contenders for the league’s presidency and was recently nominated by Gauteng.

League organiser Magasela Mzobe is the other candidate who has been nominated, while former deputy president Ronald Lamola is also said to have some support.

Masina, who is said to be a supporter of Mabe, said the league didn’t care that he was facing the charges.

He said if Mabe were elected president and were convicted, the deputy president would step in and take over.

Mpofu, who has since joined the Economic Freedom Fighters, told City Press that this was an "old allegation".

He said he would try to find out what the specific allegation was before responding to this in more detail.

Carien du Plessis, City Press
http://www.news24.com/SouthAfrica/Politics/ANCYL-answers-on-missing-millions-sort-of-20140820

 

[MickeyD]

MPOFU CHALLENGES ANCYL OVER LEMBEDE

JOHANNESBURG – Advocate Dali Mpofu has challenged the African National Congress Youth League (ANCYL) to present evidence that he bought its investment arm and prove that there was any direct or indirect wrongdoing on his part.

The convenor of the league’s national task team Mzwandile Masina yesterday alleged that Mpofu bought Lembede Investments during a probe into whether it was used to siphon off millions by then president Julius Malema and his allies.

Masina says reports that there were millions stolen from the league are not true and the previous leadership only spent money that they never had.

Mzwandile Masina says Lembede Investments no longer belongs to the ANC and was legally sold.

“What we can tell you in no uncertain terms is that Lembede was sold to Dali Mpofu by the Youth League. So ANC has now ceased with that matter."

But Mpofu has invited him to prove this or any other wrongdoing on his part before taking further action.

“I’ve challenged them to present any evidence of wrongdoing on my part either personally, directly or indirectly.”

The ANCYL will host its elective conference in Gauteng next month and says because of previous payment issues they will be paying suppliers upfront.

The probe was initiated by the task team managing the league following the expulsion of Julius Malema in 2011 and intended to find millions of rands that could not be accounted for from the entity’s investment arm Lembede.

Mpofu represented Malema during his disciplinary hearing and subsequent appeal while he was ANCYL president.

- Govan Whittles
http://ewn.co.za/2014/08/21/Mpofu-challenges-ANCYL-over-Lembede-probe

 

[LazyLion]

No wonder SARS gave Malema a penalty of R16 Million!

 

[Paul Hjul]

very interesting ...