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Auction Alliance boss in kickbacks probe

Feb 21 2012 08:04
Sapa

Johannesburg - Auction Alliance boss Rael Levitt is being investigated for allegedly paying people to drive up the amounts other people were willing to bid at property auctions, according to a report on Tuesday.

The Consumer Protection Commission and the Estate Agency Affairs Board told The Star newspaper that a probe in Levitt's business activities was under way.

Levitt is accused of giving kickbacks to liquidators, bank staff and attorneys.

Meanwhile, he has offered to step down as a board member of the SA Institute of Auctioneers pending the outcome of the investigation.

 
auction alliance  |  corruption  |  fraud

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