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S.Africa taxman wants insolvent Malema's assets

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(Globalpost/GlobalPost)

South Africa's revenue service has asked a court to seize fallen political star Julius Malema's assets to cover over $2 million in unpaid taxes, according to papers seen Tuesday.

Malema, former radical youth leader of the ruling African National Congress, is accused of repeatedly lying and has avoided paying over 16 million rand ($2 million, 1.5 million euros) owed to the South African Revenue Service (SARS).

He is insolvent and cannot pay the money, according to the SARS, which is now eyeing his two houses, a farm and a smallholding.

"A trustee would be able to find the assets, where hidden, lift the corporate veil, where necessary, to collect monies and assets due to the insolvent estate," the SARS said in court papers filed on January 31.

The service rejected the young firebrand's offer to pay four million rand toward tax returns from 2005 to 2011, blasting his poverty plea as a lie.

"The respondent is not forthright and honest relating to his financial affairs, notwithstanding numerous opportunities provided to him."

Malema, nicknamed Juju, 31, faces a political wilderness after the ANC Youth League agreed not to press for him to be readmitted to the ANC.

He was expelled last April for sowing division within the party.

To add to his woes, prosecutors have also charged him with fraud and corruption, for allegedly arranging lucrative government tenders for cronies in return for kickbacks.

Malema has until February 27 to oppose the sequestration application.

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http://www.globalpost.com/dispatch/news/afp/130205/safrica-taxman-wants-insolvent-malemas-assets