Julius Malema's VBS-fuelled spending spree explained - Scorpio

[Like what you're reading? Get more here.]( [FIRST THING With John Stupart] Monday, 9 September 2019 "Engineers like to solve problems. If there are no problems handily available, they will create their own problems." Scott Adams Story of the Day [VBS Theft, Money Laundering & Life’s Little Luxuries: Julius Malema’s time of spending dangerously]( By Pauli Van Wyk The lifestyle and political aspirations of EFF president Julius Malema were also funded from the R16-million robbed from VBS Mutual Bank. Scorpio’s investigation into the bank statements of VBS-beneficiary and slush fund Mahuna Investments show how the life savings of the poor and vulnerable VBS-depositors, as well as municipalities around the country, were transformed into school-related expenses for Malema’s sons, and were used to pay for Gucci, Louis Vuitton and tailored suits from designer Linda Makhanya, the Polokwane party venue and the EFF. Scorpio can now reveal details of how at least R5.3-million in VBS loot was siphoned off to Mahuna Investments, and how the bank card linked to this account followed Malema around the country, maintaining his personal lifestyle. Coronation - [Advertisement]Trust is rare these days. Make trust a part of your investment portfolio...[Learn More]( WHILE YOU WERE SLEEPING [Defeat is written all over her face - the victims of VBS looting]( The rampant pillaging of VBS by the well-heeled elite has repercussions. In the case of VBS, emptying their coffers for easy cash means that ordinary South Africans lost their life savings in the blink of an eye. [Maverick Citizen]( spoke with some of those victims to hear their heartbreaking stories about losing just about everything they've ever saved. [British Airways grounded during pilot strike]( A wide-scale strike by pilots flying for British Airways has grounded virtually all their flights for 48 hours. The British Airline Pilots Association is demanding that BA share more of its profits with its employees. The cost of 48 hours of no flying will certainly exceed whatever BA would have had to fork out for the union in the first place. [Talks with North Korea in 'days](' Secretary of State Mike Pompeo has revealed that he expected talks with North Korea in a matter of days. Speaking on ABC last night, Pompeo expressed optimism that de-nuclearisation talks with Pyongyang may resume after a disasterous end to Donald Trump's June trip to chat with Kim Jong Un. [Australia retains the Ashes]( Despite a massive effort by England to stall Australia to a draw in the latest Ashes test, it came to nought. Their foes from down under defeated England by 187 runs, meaning that even a loss in the final test would mean Australia retains the urn. Yanga Sibembe over at [Maverick Sports]( will have all the details you need. [Thinking about investing offshore? Here’s one question you should ask yourself]( [Sponsored Content by Coronation]( So you’re already saving for retirement and have some additional money you’re thinking about investing offshore. But you are not quite sure how to go about it. Picture of the Day By EPA-EFE/FERNANDO BIZERRA JR A view of a fire near the Transamazonian highway in Manicore, Amazonas state, Brazil, 7 September 2019. In Numbers 2:58 The point in the recording of "Hey Jude" in which you can hear Paul McCartney say "f**king hell" after making a mistake on the piano. Facts of the Day Today in 1947 the first computer bug is detected. It is, quite literally, a moth lodged inside a Harvard II computer at Harvard University. Rays will breach the water much the same as whales. Like whales, nobody knows why. Coronation - When investing your money, we look at the seen and unseen...[Learn More]( Featured Articles [Eight Key Takeaways from ‘Julius Malema’s Time of Spending Dangerously’ story]( [Eight Key Takeaways from ‘Julius Malema’s Time of Spending Dangerously’ story]( By Pauli Van Wyk [Bosasa boss had a ‘Messiah complex’ and claimed he was ‘sent by God’ to guide his staff]( [Bosasa boss had a ‘Messiah complex’ and claimed he was ‘sent by God’ to guide his staff]( By Jacques Pauw [’Twixt a rock and a hard place: Who would want to be in Cyril Ramaphosa’s shoes?]( [’Twixt a rock and a hard place: Who would want to be in Cyril Ramaphosa’s shoes?]( By Stephen Grootes [Ramaphosa’s moment of truth]( [Ramaphosa’s moment of truth]( By Richard Poplak [’Twixt a rock and a hard place: Who would want to be in Cyril Ramaphosa’s shoes?]( By Stephen Grootes [The ANC caucus lekgotla thinks about where, and how, it sees Parliament]( By Marianne Merten [Game’s over for Mugabe, but not for the country he helped devastate]( By J Brooks Spector Opinionistas [Fuelling of xenophobia flames has long-lasting impacts]( A column by Azu Ishiekwene [If the DA is so committed to human rights, why does it inhibit free speech in the Western Cape?]( A column by Muhammad Khalid Sayed [Don’t throw the baby out with the bathwater – social cohesion can be a powerful force for good]( A column by Shelagh Gastrow Weather BFN: min: 7° max: 26°, cloudy CPT: min: 13° max: 21°, cloudy DBN: min: 13° max: 24°, cloudy EL: min: 15° max: 31°, cloudy JHB: min: 6° max: 15°, rainy MHK: min: 13° max: 28°, sunny NLP: min: 8° max: 27°, cloudy PE: min: 14° max: 26°, sunny PMB: min: 19° max: 29°, cloudy Financial Data R/$ = 14.82 0% R/£ = 18.21 0% R/€ = 16.35 0% R/BTC = 154,002.92 -1.41% At -+5am or latest: % open to close [Courtesy of Business Maverick.]( Coronation - Trust is rare these days. 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