Loading...

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

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about: STEINHOFF

Steinhoff International, once the darling of fund managers, risks falling out of the JSE top 100.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

If SARB keeps interest rates the same this afternoon, how will this affect your personal finances?

Previous results · Suggest a vote

Loading...