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DA MP Cachalia apologises for linking Malema to VBS bank saga

In a tweet, Ghaleb Cachalia accused Julius Malema of owning shares in Dyambeu Investments which is owned by the King Dyambeu and falls under Vele Investments.

FILE: Economic Freedom Fighters leader Julius Malema (C) pictured during a press briefing on 14 February 2017. Picture: EWN.

JOHANNESBURG - Democratic Alliance Member of Parliament Ghaleb Cachalia has apologised to Economic Freedom Fighters leader Julius Malema for tweeting unverified information as facts that Malema owned 47% of shares in Dyambeu Investments.

The company is linked to the VBS Mutual Bank saga where over a R2 billion was looted.

Cachalia has admitted that he tweeted the information before verifying.

He says he deleted the tweet after realising that he was wrong but his post had already gone viral on social media.

In the tweet, he accused Malema of owning shares in Dyambeu Investments which is owned by the King Dyambeu and falls under Vele Investments.

It's alleged that the company looted R900 million from VBS bank.

Cachalia apologised to the EFF leader after Malema's lawyer threated to take legal action if he doesn't heed to his demands.

The EFF has slammed the media, saying there is a “well-orchestrated propaganda campaign to discredit and tarnish the party's name.”