EFF leader Julius Malema has been put under provisional sequestration, which means he no longer has control over his finances and assets.
Malema has until 26 May to convince the court the decision should not be made final.
This comes after Malema put forward an application for the case to be postponed. The matter was heard in the North Gauteng High Court in Tshwane yesterday without him being present.
His legal team wanted this case to be postponed until the criminal case against him was finished. He is facing charges of fraud, corruption, money laundering and racketeering.
Malema’s lawyer Dolf Mosoma said the charges in his criminal case were similar to those in the sequestration one and if he pleaded, he would lose his constitutional right to remain silent about criminal charges.
Judge Bill Prinsloo said: “Julius has had since April to settle this issue but never did.”
He called the application a delaying tactic.
“Application for postponement is dismissed,” he said.