Liquidator’s lavish lifestyle uncovered
HE splashed out on a holiday in the Maldives, fancy cars, Liverpool football tickets and renovating his home, but now Gauteng liquidator Ettiene Venter’s lavish lifestyle has landed him in hot water.
Venter, who was arrested and charged and appeared in the Commercial Crimes Court in Johannesburg late last year, appeared again on Friday in connection with money he is accused of stealing from the liquidated estate of Joash Leasing CC, a property-holding company.
Proceeds from the sale of properties owned by Joash were meant to be paid to Absa to settle mortgage loans and take care of the insolvent estate’s administration expenses.
The five theft charges involving the Joash Leasing matter are based on complaints by Venter’s insurers, Safire Insurance Company.
It alleges that in February 2010 he auctioned three sectional titles through the sheriff’s offices and pocketed the R460 000 deposit as well as the balance of the purchase price when it was transferred into his firm’s business account.
Later that month Venter paid R15 000 for tickets for a “Liverpool match” and the next month he paid R81 000 for a holiday in the Maldives.
In 2015 Venter’s own firm was liquidated. His personal estate has been sequestrated in an attempt to recover money for estate creditors.
In court papers, fellow liquidator Solomon Boikanyo said Venter had been removed from his position.
He has obtained a court order seeking to compel Venter to disclose where the stolen money could be found.
Boikanyo said Venter had initially failed to provide this information and he had launched a contempt-of-court application.
“At a subsequent inquiry he gave his complete co-operation and answered all questions to the extent he could remember the detail. He admitted that he does not have the money any more,” said Boikanyo in court papers.
The Master of the high court confirmed Venter’s removal as liquidator for Joash Leasing and is in the process of confirming his removal in several other matters.
At an insolvency inquiry in 2015 it was established that Venter had misappropriated more than R5-million from the Joash estate.
Safire CEO Pierre Bekker said Venter had been handling several hundred matters across South Africa and that a number of creditors had approached the company. LIVERPOOL FAN: Liquidator Ettiene Venter outside the High Court in Johannesburg this week
Venter appeared briefly on Friday and National Prosecuting Authority prosecutor Advocate Phuti Matabane asked for the case to be postponed pending further investigations. Venter’s bail conditions were extended until March 1. — Additional Reporting by Siphe Macanda