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Another fraud case pending at Beyers Realty Group

Cape Town - The results of an audit of the trust account of Beyers Realty Group could be expected by the end of this week, according to David Erleigh, attorney for the company's co-owner Beyers Swanepoel Trollip.

"By then my client will know what the issue is and will be able to address concerns," Erleigh told Fin24 on Tuesday.

Beyers Swanepoel Trollip told Fin24 on Friday that he was shocked to discover that about R6m was gone from his trust account, which according to him had been audited just recently. He emphasised repeatedly that he is not "running away".

According to Erleigh, his client's business partner and husband, Leonard Swanepoel Trollip is in Australia. They have a 50/50 partnership in Beyers Realty Group. Beyers Swanepoel Trollip and the couple's adopted daughter are, according to Erleigh, still in Cape Town.

Asked about rumours that Leonard Swanepoel Trollip is actually still in SA, Erleigh said he cannot comment on whether he is in or outside SA.

"My client is working with the auditor of the company - who did an audit for the 2016 financial year too. My client is having a full audit done of the trust account of the business. My client is moving heaven and earth to establish his position," said Erleigh.

Asked about the lifestyle of the Swanepoel Trollips, Erleigh said his client has only flown business class on one occasion and when he travels on holiday - which is usually for short periods of time - he stays in 3- and 4-star hotels. And, although he drives a Maserati, he does not own it. He owns a financed BMW - which according to Erleigh is "typical of the kinds of cars - BMW and Mercedes - professionals drive in Cape Town".

READ: Millions 'disappear' from Cape estate agency account

Australia

As for claims that the couple own property in Australia, Erleigh said he has no instructions in this regard, but doubts whether his client owns anything in Australia.

As for fears that his client might leave SA, Erleigh said neither he nor his client can respond to "malicious speculation not based on fact".

"My client has taken all the necessary and appropriate steps by notifying authorities that there is a problem in his company and he instructed auditors to look into his trust account urgently. That is being someone who is being a director taking reasonable steps about concerns about his company. He is addressing a possible problem," said Erleigh.

"It is pure speculation whether my client knew something about the state of the company finances. He can only answer allegations if he is presented by facts."

Asked what the impact of the current state of affairs are on the couple's relationship, Erleigh emphasised that he is assisting his client only in his business affairs and no inference can be drawn about the personal relationship of the Swanepoel Trollips. Beyers Swanepoel Trollip told Fin24 on Friday that he was unable to get hold of his partner.

Because of his extensive experience in the real estate business, Beyers Swanepoel Trollip said he was in charge of sales, while his partner handled the financial side along with a team of four. "We made good money and were living our dream," said Beyers Swanepoel Trollip.

"I now suspect that my trust account has been completely abused. An investigation is, therefore, now under way to establish what happened to the money and - more importantly - who was responsible."

READ: Beyers Realty Group plot thickens

Following the law

Erleigh emphasised that his client is just following the law and the law requires certain steps.

"He has taken the step to note his concern to authorities while the matter is being investigating," said Erleigh. He added that at this point Beyers Swanepoel Trollip is aware of litigation by a former employee against him or his company, but he has not received any warning in this regard yet.

Among the Fin24 users expressing concern about what is happening at Beyers Realty Group, is "Josh" who said in an email he is unfortunately one of those "who has been inconvenienced".

"The agency has yet to notify me of what has transpired. I found out through a third party on Friday and they are not returning emails to me or my transferring attorney. I have spoken to the principal at the franchise who is facilitating the sale and they have no idea what is happening. I can't seem to find an answer from anyone," he wrote.

"I do not know if I will get the money back or what's going to happen with the transfer."

Jarette Petzer, a former national sales manager of Beyers Realty Group, told Fin24 on Tuesday that he left the agency in July.

"I am the one who blew the whistle at the Estate Agency Affairs Board (EAAB)," claimed Petzer. "The facts will speak for themselves. This thing is going to explode. Almost 90 staff might lose their jobs and what about their commissions?" he asked.

According to Erleigh, his instructions are that Petzer is just a disgruntled former employee litigating against Beyers Realty Group. He said Petzer has no first hand knowledge of what Beyers Swanepoel Trollip has done to address matters at the company since he (Petzer) left.

The Table View police has confirmed to Fin24 that there are currently two cases involving Beyers Realty Group. The one was made by Beyers Swanepoel Trollip. It is a case of fraud, but he does not name any suspect in his claim. He simply states that his trust account does not add up and that there are insufficient funds. He claims that his auditor says the account is R5m short. He also states that he does not have any access to that trust account.

The second case - also a fraud claim - was made by Petzer. In his case Petzer claims he was informed that there was something wrong with the trust account of Beyers Realty Group and that monies were paid into other accounts which did not form part of the company. This case is currently being transferred to the Sea Point Police.

The EAAB informed Fin24 on Tuesday that the board is discussing the Beyers Realty Group matter.

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