SOUTH AFRICA'S SHAIK AND THE R 10 MILLION HOUSE

THE STAR NEWSPAPER
JOHANNESBURG, SOUTH AFRICA
13 March 2009, 09:34

Schabir Shaik offered R10-million to buy a house in Durban a week before he was released from hospital on early parole, the Mail & Guardian newspaper reported on Friday.

Carol Reynolds, the Durban manager of Pam Golding Properties, confirmed that Shaik made a verbal offer of R10-million for the Eastbourne Road property, but a written offer of R9.8-million which has also been "on the table" was accepted, the report read.

More pictures tracing Shaik's journey.

The two-storey, five-bedroom house is on the same street as King's House, the official Durban residence of the state president.

Shaik was released on early parole last week after serving two years and four months of a 15-year fraud and corruption sentence, related partly to a bribe a court found he had facilitated for ANC president Jacob Zuma from an arms company.

Questions have been raised over whether Shaik is indeed terminally ill - a requirement for medical parole.

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

The rest of the interest and the original R34-million were deposited into the criminal asset recovery account. - Sapa