Fat profit: Graeme Smith’s dad sued over property sale on luxury Knysna golf estate

2011-04-16 00:00

GRAHAM Smith, father of the South African cricket captain Graeme, is being sued by his former best friend over the sale of a luxury plot.

Patrick Geoghegan of Johannesburg has filed court papers against Smith in connection with a plot he bought from Smith for R1,4 million.

The case is due to come before the Gauteng High Court on Tuesday.

In 2004 Smith apparently told Geoghegan he could organise him a stand at a good price in the Pezula Private Estate near Knysna in the Western Cape, and that he would be making no profit himself from the sale.

“I believed him because we have been friends for about 15 years. My children went to King Edward College with his children Gavin, the younger one, and Graeme, the cricketer. We shared Christmases together, had family holidays together and entertained each other at our homes,” said Geoghegan.

He said he bought the property expecting to re-sell it at a profit with ease but that was not to be as he could only sell it in 2010 for R1,5 million.

“I was shocked to learn from the deeds office records that Smith had made a profit of R590 000 when he sold the property to me. I learnt that he had bought the stand for R810 000 and sold it to me for R1,4million, and in addition, I had also paid his transfer costs of R9 018.”

Smith said later, “I don’t understand because nobody forced him at gunpoint to buy the plot. “Wouldn’t you sell a property for profit?”

He referred the Weekend Witness to his lawyer Jonathan Stockwell, who said the matter is sub-judice.

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