Johannesburg – VBS Mutual Bank “fixer” and former Limpopo ANC Youth League leader Kabelo Matsepe and his wife Bogoshi Makgobokele are being kicked out of their R17-million mansion after breaching the terms of a cash deal to buy it about two years ago.
The property owners applied for an eviction order in the Joburg High Court last week to evict the couple and their children from the property.
Matsepe was arrested together with Limpopo ANC Limpopo treasurer Danny Msiza and VBS chief operations officer Robert Madzonga, among others, for allegedly looting over R2-billion from the mutual bank, which was later liquidated.
You may also be interested in: MTN faces R1.2bn claim from Biza for Ayoba app
The businessman, who has been hit with a R30-million tax bill by the South African Revenue Service, was released on R100 000 bail when he appeared at the Palm Ridge Commercial Crimes Court in March this year.
The case was transferred to Pretoria High Court for pre-trial on August 2. News of the Matsepes’ imminent eviction comes amid allegations that the Limpopo-born politician, who allegedly made over R30-million from his dealings with VBS, has bought a house overseas through a third party and was moving his children there to further their studies.
Have you read: Former wife of VBS boss fails to pay rates on R25m mansion
It is also alleged that he wanted to pursue business interests outside the country. In their application for the eviction order, Donald McLeod, Anthony John Welthagen and Kevin Alexander McKenzie, who were the trustees of Donald Weir No 2 Family Trust, said Matsepe and Makgobokele concluded a written agreement with the trust on November 27 2019 to buy a mansion in the ritzy Lanseria Equestrian Estate for R17-million in cash in 2019.
“The couple was expected to pay a deposit of R1.93m”
According to the agreement, said the trustees, Matsepe and his wife, who were married in community of property, were expected to pay a non-refundable deposit of R1.93-million into the account of conveyancer Sian Richarson Attorneys before March 31 last year.
The couple would then have to pay the remainder of the purchase price money in cash.
It was agreed that the couple would take occupation of the property on December 1 and pay R70 000 occupational rent until the sale of the house was finalised.
The trustees said they learnt from the conveyancer on the day the deposit was supposed to have been paid that the Matsepes, who had already taken occupation of the property, had failed to pay the money as agreed in the contract.
They said they contacted Matsepe the following day. He asked for more time to raise the funds or for the agreement to be amended to allow him to pay only R1-million instead of the initial R1.93-million.
Have you read: Supra should not weaponise the struggle history in Zuma’s defence
The trustees further said they amended the agreement to allow the Matsepes to pay R1-million on March 31 and R930 000 on April 30 or vacate the property if they failed to remit payment on the stipulated dates. “As a result of the non-fulfi lment of the suspensive condition, the agreement was void … the underlying cause for the respondents’ occupation of the property ended,” read the papers.
They are asking the court to grant them an order to kick the Matsepes out, arguing that he was deliberately refusing to pay them because their house was full of expensive furniture and the garage had two luxury cars.
Matsepe declined to comment and said he did not want to discuss his private life in the media.
But a source close to him said Matsepe deliberately collapsed the deal because he bought a property overseas and planned to move his children there.
Also read: Taxpayers’ money used to pay for Zuma’s legal fees in arms deal trial
Follow @SundayWorldZA on Twitter and @sundayworldza on Instagram, or like our Facebook Page, Sunday World, by clicking here for the latest breaking news in South Africa. To Subscribe to Sunday World, click here.
Sunday World
