Remember The Guy Who Bought Malema’s Mansion? He Can’t Afford It And Has Forfeited The R1 Million Deposit

03 Sep 2013 by Jasmine Stone in Money, Real Estate

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This guy, Norman Tloubatla, bid R5.9 million on a house, nay, mansion, that he can’t afford. Not just anyone’s mansion, the former leader of the ANCYL and leader of the EFF, Julius Malema’s mansion.

Julius was forced to sell the property he bought for R3.6 million three years ago because of the hefty R16 million tax bill he owes to Sars. Mr. Tloubatla successfully outbid several others to land the half-built house for a little over a million under its estimated worth. Super excited as he was, he slapped down a R1 million deposit and started looking forward to a lavish lifestyle living in the mansion. Too bad he didn’t talk to his financial manager about it first. Four months after he won the bid he’s had to cancel it and forfeit the deposit due to lack of funds.

The house will go on sale (again) later this year.

Seriously, who are these people?

[Source : News24]

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