Malema's house buyer loses R1m deposit

2013-10-27 13:51
Julius Malema is a tenderpreneur at the stratospheric level. (AFP)

Julius Malema is a tenderpreneur at the stratospheric level. (AFP) (AFP)

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Johannesburg - The man who bought Julius Malema's Sandown mansion would not comment on reports that he could not afford to pay for the house, Sunday Times reported.

"I'm not interested in talking to the media," Norman Tloubatla was quoted as saying.

According to the newspaper the house would go back on the market because Tloubatla, who paid a R1 million deposit, failed to raise the full price.

He had also forfeited his down payment after bidding R5.9m for the property at a public auction in May.

"He couldn't pay the balance so the liquidators will have to resell it," an insider told Sunday Times.

Tloubatla's assets had reportedly been attached to pay for R184 000 that was owed to former employees, who the Labour Court in Johannesburg ruled had been unfairly dismissed.

The court's decision came after Tloubatla ignored a ruling by the Metal and Engineering Industries Bargaining Council, which said he should pay and reinstate seven employees whom he fired last year.

Tloubatla is chief executive of Magnified Designs in Roodepoort, west of Johannesburg. The company specialised in making road signs.

SA Revenue Service spokesperson Adrian Lackay referred all questions to the liquidator of Malema's assets, Sechaba Trust.

Curator Cloete Murray from Sechaba Trust refused to comment, the newspaper reported.

Read more on:    julius malema  |  johannesburg

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