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Johannesburg - Wendy Machanik and her company Wendy Machanik Properties have been provisionally ordered to not trade as estate agents by the High Court in Johannesburg, The Star reported on Thursday.
The ruling followed an urgent application by the Estate Agency Affairs Board (EAAB) which argued that Machanik did not have the necessary fidelity fund certificate for 2011 to operate, as required by the Estate Agents Act.
The matter was postponed to Tuesday for the EAAB to argue for its application, and for Wendy Machanik Properties to argue a counter-application.
The interim order will be in effect until the certificate is issued.
EAAB spokesperson Portia Mofikoe said the certificate had not been granted because they were waiting for the results of a forensic audit of the agency. Last week, the EAAB successfully applied to place the agency's trust accounts under curatorship following alleged financial irregularities in the management of the accounts.
A forensic investigation had showed Machanik allegedly channelled funds from a trust account to her company account to keep the business afloat, The Star reported.
City Press reported on Thursday that the EAAB had opened a docket against Machanik at the Norwood police station for allegedly stealing R25m from her agency's trust accounts.
The ruling followed an urgent application by the Estate Agency Affairs Board (EAAB) which argued that Machanik did not have the necessary fidelity fund certificate for 2011 to operate, as required by the Estate Agents Act.
The matter was postponed to Tuesday for the EAAB to argue for its application, and for Wendy Machanik Properties to argue a counter-application.
The interim order will be in effect until the certificate is issued.
EAAB spokesperson Portia Mofikoe said the certificate had not been granted because they were waiting for the results of a forensic audit of the agency. Last week, the EAAB successfully applied to place the agency's trust accounts under curatorship following alleged financial irregularities in the management of the accounts.
A forensic investigation had showed Machanik allegedly channelled funds from a trust account to her company account to keep the business afloat, The Star reported.
City Press reported on Thursday that the EAAB had opened a docket against Machanik at the Norwood police station for allegedly stealing R25m from her agency's trust accounts.
