Clive Lazurus: The sale of the Gupta’s State Capture HQ - with many empty bank bags

A lot of empty plastic bank bags were among the expensive bottles of whiskey and boxes of cigars left behind by the Guptas when they fled South Africa. So says Clive Lazarus, the Director of Park Village Auctions (PVA), the house that has sold the infamous Gupta compound where politicians and businessmen entertained lavishly during the State Capture era.  The compound’ three properties, numbers 3, 5, and 7 Saxonwold Drive, Sandton, Gauteng, and their contents of furniture and appliances fetched an estimated total of R34,500,000. To date, PVA, on behalf of the Business Rescue Practitioners, has successfully disposed of Gupta-owned assets previously belonging to Confident Concept, Islandsite Investments, Koornfontein Mines, Optimum Coal Mine, Optimum Coal Terminal, The New Age Medial and VR Laser Services, clawing back “maybe in the hundreds of millions,” says Lazarus, adding, however: ”but the Business Rescue Practitioners have sold a lot privately, not through auction. That amount I wouldn't be able to give you, but it's a considerable amount of money. I would presume in the hundreds of millions of rands.”  He notes that PVA is “proud” to be involved in many State Capture auctions.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

Support South Africa’s bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.

If you prefer WhatsApp for updates, sign up to the BizNews channel here.

Watch here

Listen here