Want a jet, a car, a house? Gupta sale is on

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More than a billion rands of the Guptas’ assets are being sold off — but the state is unlikely to recover a cent from the alleged looting of its coffers by the family.

Instead, business rescue practitioners will use the proceeds to settle the Guptas’ debts. The family is said to be fighting tooth and nail against the “fire sale” of their prized assets.

With no formal charges laid against the Guptas, the state is ineligible to receive the proceeds from any of the sales. Among the Gupta properties on the market is the infamous compound near the Johannesburg Zoo, seen as the seat of power of the Gupta family. It was also the scene of several alleged efforts to corrupt high-ranking government officials, including former deputy minister of finance Mcebisi Jonas and MP Vytjie Mentor.A mid-week visit to the property told a story of a once powerful family in decline.

At least 100 vehicles have previously been linked to the Guptas’ Saxonwold properties by the National Prosecuting Authority’s Asset Forfeiture Unit, including a Maserati, a Porsche, a Lamborghini and Range Rovers.

 

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Surely proceeds of crime fall under the state's jurisdiction?

Unathi_Kwaza Correction .... Guptas DID NOT, I repeat, DID NOT loot state coffers.State coffers was thrown at them by ANC government.QHA QWABA!!!

its so amazing with a short space time they have acquired so much when an ordinary business person in SA still suffers so much red tape ,its pays to have a president as a puppet

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