Shaik's R10m bid for Durban Mansion

The Mail and Guardian today reports Shaik tried to buy a house just days before his controversial release from prison.

Pam Golding Properties’ Durban manager Carol Reynolds confirms the former financial advisor to Jacob Zuma made a verbal offer for a R10 million mansion, on Eastbourne road in Durban, two weeks before his release from hospital jail.

The winning bidder made a written offer of R9.8 million for the five-bedroom house.

Reynolds says the owner of the house decided to go with the written offer because he felt Shaik’s offer was too risky and inconclusive.

View this property on the Pam Golding Web Site:
link http://www.pamgolding.co.za/property/property_result_listingref.asp?txtListingRef=442345

The palatial two-storey mansion is on the same road and a stone’s throw away from King’s House, the official Durban residence of the state president. It is likely to be African National Congress president Jacob Zuma’s base after next month’s elections.

The offer for the Eastbourne Road house, a few streets up from Shaik’s current home in Morningside, also raises questions about his financial capacity.

In 2006 the asset forfeiture unit seized R34,4-million in assets from Shaik and his three Nkobi companies after they were deemed to be proceeds or benefits of his corrupt relationship with Zuma.

In January this year the National Prosecuting Authority agreed to pay Shaik half the R14-million interest this had accrued over two years.

He was paid R5-million in cash and another R2-million to cover his legal fees.

Although the Asset Forfeiture Unit seized R34 million worth of his assets - the Nkobi Holding’s boss is not running short of cash - as one of his companies - Kobitech - has a one third state in Prodiba - the company that won a R650 million contract to produce drivers licenses in Mzansi.