Media Statement

Johannesburg estate agency boss Lew Geffen says the Estate Agency Affairs Board has now confirmed that the suspension of its CEO Nomonde Mapetla has nothing at all to do with his company, Lew Geffen Estates.
“In an interview with Moneyweb yesterday, EAAB chairman Thami Bolani clearly said the board was not aware of any investigation into any real estate company other than the completed probe into Wendy Machanik Properties when it suspended Mapetla.
“According to him, the Board had, in fact, suspended the CEO while it investigated certain ‘governance issues’ following the many complaints it had received from the real estate industry to do with compliance procedures.
Geffen says this underlines the inaccuracy of reports in the Sunday Times and other newspapers which implied that Mapetla had been suspended because she initiated a probe into Lew Geffen Estates.
“As I have already said, the suspension has nothing whatsoever to do with my company, and I believe it was malicious to imply that it did.
On the issue of whether an investigation actually has been or is about to be launched into Lew Geffen Estates as a result of a complaint to the EAAB by a “whistle-blower”, Geffen says he has received no notification of this from the Board. “In any case regular audits by the EAAB are absolutely routine and when our company had such an audit three years ago the business was found to be absolutely clean.
“And as I’ve said repeatedly, the Board is welcome to come and audit our trust accounts and check into our management of client’s funds at any time as we run a squeaky clean business.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us