State Capture Recovery Pays Off

ASSETS: AUCTIONEERS CLOSE CHAPTER ON GUPTAS

- Citizen reporter

The South African Institute of Auctioneers (SAIA) is hailing the latest sale of Gupta-linked assets as another meaningful step in the long process of recovering billions of rands looted during the era of state capture.

In the most recent example, Park Village Auctions (PVA), a SAIA member, realised about R34.5 million from the sale of three prime Saxonwold properties, their contents and an additional nearby property.

These assets once formed part of the sprawling Gupta empire which for years benefited from corrupt government patronage.

The auction, conducted in conjunction with business rescue practitioners (BRPs), saw numbers 3, 5 and 7 Saxonwold Drive, along with furniture and appliances, sold as a package deal.