Scharbir Shaik speaks out on the money he gave to Jacob Zuma

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 Convicted fraudster Schabir Shaik says the millions of rand he gave President Jacob Zuma was for the "upkeep and education" of his children.

The Mail&Guardian reported on Friday morning that Shaik said he gave the money to help the children with no pressure whatsoever from the president.

He was quoted as saying the funding was so that Zuma would not have this financial burden and could focus on the issues at hand.

Shaik was found guilty on two counts of corruption and one of fraud in 2005 for alleged irregular financial dealings with Zuma, who was deputy president at the time.