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NPA seizes Durban businessman's assets

Johannesburg - The Asset Forfeiture Unit has seized property and cash belonging to Durban businessman Jay Singh, the National Prosecuting Authority said on Thursday.

The unit seized property comprising 1 244 flats in Phoenix, valued at R317m as well as R101 764 000 in cash, NPA spokesperson Nathi Mncube said.

"The property was preserved on the basis that it is the proceeds of unlawful activities, namely fraud, perpetrated by a certain entity known as Woodglaze Trading by fraudulently transferring the block of flats to an entity known as First Metro Housing Company without its knowledge and consent," said Mncube.

He said Singh was a director of Woodglaze.

A commission of inquiry is currently probing the death of two people following the collapse of a mall - being built by another of Singh's companies - in Tongaat in November last year.


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