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Mysterious millionaire buys Malema's house

Sars scores as unknown millionaire buys Malema’s Sandton house for R5.9m during an auction.

Julius Malema's Sandton mansion fetched R5.9m at an auction. Picture: Sebabatso Mosamo/EWN

JOHANNESBURG - Little is known about the millionaire businessman who outbid everyone to become the new owner of Julius Malema's Sandton home.

The half-built house went under the hammer on Thursday for R5.9 million to help the expelled African National Congress Youth League (ANCYL) leader cover his tax bill of R16 million.

Malema owes the South African Revenue Service (Sars) R16 million as a result of unpaid taxes, penalties and interest.

Sars started investigating Malema's tax affairs in 2011 after it was revealed that he was linked to companies which had obtained lucrative contracts from the Limpopo provincial government.

The former ANC Youth League leader is also facing a R52 million fraud and racketeering case in Limpopo.

The state alleged millions of rands were paid into Malema's Ratanang Family Trust as kickbacks for tenders awarded on Limpopo road projects.

MYSTERIOUS NEW OWNER

Norman Tloubatla of Magnified Signs is now the owner of the 948 square-metre double storey home.

It was expected to sell between R2 and R3.5 million, but after a bidding war it ended up in Tloubatla's hands at R5.9 million.

The new owner refused to comment to the media, speeding off in his white Porsche.

The house has 4 bedrooms, a cigar lounge and an underground parking garage.

MALEMA ON THE BURNER

Malema lost several of his possessions including his Limpopo farm due to the large tax bill owed to Sars.

Meanwhile, Malema has also lost most of his friends since his legal woes began.

In September, Malema and his co-accused Lesiba Gwangwa and Kagisho Dichabe were arrested on charges of corruption, fraud and money laundering.

The three men were released on R10,000 bail each.

In March, the court appointed two curators to take over his estate and manage his assets.

It further allowed the curators to dispose of Malema's assets by means of auctions and to pay the proceeds to Sars.

The curators intended launching an application to have Malema declared in contempt of court, but last minute negotiations had halted the matter.

Despite his expulsion from the party, he remains vocal of his criticism of President Jacob Zuma.

Malema, once a Zuma supporter, now believes the President is not the right man to lead the ruling party.

He has attacked Zuma's lifestyle a number of times over the past few months.