Luxurious home of ex-VBS chair auctioned off for R5m
Going once, twice, and its sold at R5m! The luxurious Honeydew home of the ex-chairperson of defunct VBS Mutual Bank has been auctioned off.
Tshifiwa Matodzi's four-bedroomed home went under the hammer on Tuesday.
Matodzi's double-storey residential dwelling was previously on the market for R5.9m, with its value standing at R5.4m Auction administrator from Michael James Organisation, Sabine Schneider, confirmed the sale to News24, and said "there is a 14-day confirmation period" for the successful bidder to finalise the purchase.
"We had 11 registered bidders, all who complied with the FICA requirements," Schneider added.
The sale of the house is yet another blow for Matodzi, after the South African Institute of Chartered Accountants announced in February that its disciplinary committee had ordered him to be stripped of his registration.