Guptas ‘backed’ ANC Youth League leader’s bond for R5.4m home: report

A report in the City Press alleges that the controversial Gupta family arranged for ANC Youth League leader Collen Maine, to secure a R5.4 million bond for his golf estate home.

The Sunday Times reported in March, that Maine was granted a bond from the Bank of India to purchase a home Woodhill Estate, one month after his election victory.

The paper reported that deeds office records showed that Maine was granted a R5.4 million bond, despite the fact that the Bank of India does not offer home loans, dealing only with corporate clients.

“I approached a bank, a bank gave me a loan,” Maine told the Sunday Times. “Banks don’t work on influence, they are not politically linked.”

Maine reportedly earns a monthly salary of less than R30,000. He told the paper that he could afford the repayments for a R5.4 million home because of his private businesses.

Maine has previously defended the Gupta family and their relationship with president Jacob Zuma.

The City Press noted that Maine has earned the epithet “that Guptacontrolled Oros [man]” from Economic Freedom Fighters deputy leader Floyd Shivambu on social media.

A person with direct knowledge of the sale, speaking on condition of anonymity, told investigative journalism centre, amaBhungane this week, that Maine had originally submitted a cash offer, meaning the purchase was not dependent on him raising a bond.

The City Press pointed out that under normal circumstances, a cash buyer will have a limited period to come up with the money or a bank guarantee, long before the transfer is
registered.

In this instance, the source said, Pretoria lawyer Abdul Jaffer remitted the full R5.4 million, saying it came from the Bank of India.

Jaffer has previously acted for the Gupta family, The City Press said.

A second source, who claims he was briefed on aspects of the transaction when it took place, told amaBhungane that the Gupta family arranged with the Bank of India to grant Maine a bond because he could not afford it.

The Guptas asked Jaffer to help, he said, and the bond registration was done by a conveyancer known to Jaffer, Shamsoodeen Omar.

Deeds office records confirm a Bank of India bond covering the full R5.4 million purchase
price, with Omar as conveyancer.

Omar, who has done previous bond registrations for properties related to the Guptas, referred queries to Jaffer, the City Press reported, who did not deny his firm’s involvement in the sale.

Questions posed by The City Press elicited the following response from Maine: “I don’t know who is discussing those things with you. I have gone to the bank. I have got an agreement with the bank on how I pay the house for 20 years, so I would not then discuss my private issues in public any more. That’s my response.”

The Gupta family did not reply to questions posed by the paper.

You can read the full story in the City Press for 1 May 2016

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Guptas ‘backed’ ANC Youth League leader’s bond for R5.4m home: report