Terry Pheto, who starred in Tsotsi and The Bold and the Beautiful, purchased a beautiful home with alleged lottery money and it has been sold it to an unnamed Johannesburg businessman for R3.9 million.
According to News24, when it was placed up for auction in early March, the house—which was covered by a preservation order obtained by the Assets Forfeiture Unit of the National Prosecution Authority—failed to draw any interest.
The publication spoke to Auctioneer Graham Renfrew, of Asset Auctions, confirmed that the house had been sold for R3.9m after it was offered to “interested parties” when it failed to attract any bids on the day it went under the hammer.
“We sent out 105 offers to purchase to interested parties and received eight offers, ranging from R1.7m to R3.9m. Of these offers eight, ranging from R3.5m to R3.9m, were forwarded to the curator [acting for the Special Investigating Unit] for consideration,” said Renfrew.
The process of transferring the house to the new owner is currently under progress after the highest offer of R3.9 million was approved, he said.
The publication notes that Terry had the home built for her in Bryanston, Johannesburg. It is alleged that Lottery monies designated for “good purposes” were used to purchase the house and the property on which it is situated. The whole cost came to R5m.
A dubious R20 million lottery grant for a “initiation program” given to the nonprofit organization Zibsimode during the 2017–2018 fiscal year accounted for R3 million of that total.
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