Auction Alliance chief executive Rael Levitt has admitted using a close
friend to rig the controversial Quoin Rock auction, it was reported on
The Weekend Argus reported that Levitt allegedly made a
written confession that he and Israeli property developer Ariel Gerbi
set up a plan to disguise the rigged auction,
They reportedly tried to "create the impression" that Gerbi was a genuine bidder by "adding his name to the bidder's roll".
This, after millionaire businesswoman Wendy Appelbaum
questioned the integrity of the process minutes after losing out at the
According to the Weekend Argus, Levitt created the
appearance that an employee of his at the auction Deon Leygonie was
bidding on behalf of Gerbi.
The newspaper obtained the confession, apparently made
at the start of the year, by applying to the National Consumer Tribunal
for access to the information.
Levitt resigned in February amid accusations of
widespread auction-rigging, including arranging kickbacks for a number
of linked professionals, such as bankers and liquidators.
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