Publication: The Times Issued: Date: 2007-12-14 Reporter: Monica Laganparsad

Shaik’s Flat Fetches R3.5m

 

Publication 

The Times

Date

2007-12-14

Reporter Monica Laganparsad

Web Link

www.thetimes.co.za

 

Schabir Shaik’s former home, a beachfront penthouse, went under the auctioneer’s hammer in Durban this week and fetched a bid of R3.5-million.

But the offer on the 360m² flat, which occupies the top floor of the Yarningdale building, has yet to be confirmed by the family.

Aucor, the auctioneers, confirmed yesterday the penthouse belonged to Shaik’s wife, Zuleikha.

The luxurious penthouse in lower Marine Parade was recently renovated. It has panoramic sea, city and Berea views.

In August 2005, the flat was gutted by fire. Damage was estimated at R2-million.

The penthouse was raided by the Scorpions during their investigation of Shaik, who was later convicted of fraud.

Shaik’s attorney, Reeves Parsee, said yesterday that the sale of the penthouse had nothing to do with his client’s Constitutional Court appeal against the confiscation of his assets.

The court has refused Shaik’s application for leave to appeal against his fraud and corruption convictions and against his 15-year prison sentence.

But he was granted leave to challenge the state’s confiscation of R33-million of his assets, which the state claimed was the proceeds of his corrupt relationship with ANC deputy president Jacob Zuma.

With acknowledgements to Monica Laganparsad and The Times.