Commision finds auction boss guilty - report

2012-03-31 14:40

Johannesburg - Embattled Auction Alliance boss Rael Levitt has been found guilty of bid rigging and fraud, according to a report on Saturday.

In what has been dubbed the biggest the white collar crime to be exposed in South Africa, the National Consumer Commission ruled against Levitt, The Saturday Star reported.

Levitt now faces a R1m fine or 12 months in jail.

The decision comes after a complaint was lodged by businesswoman Wendy Appelbaum who argued that she had been "duped" in a phoney auction in December.

Appelbaum told the publication that she was satisfied justice had been done.

Read more on:    auction alliance  |  rael levitt
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