Just days after he announced he was auctioning his posh Sandhurst, northern Johannesburg, home through scandal-hit Auction Alliance, celebrity divorce lawyer Billy Gundelfinger has pulled out of the deal.
Gundelfinger, who has represented celebrities including former Miss SA Peggy-Sue Khumalo, TKZee's Tokollo Tshabalala, Rhema Ministries' Pastor Ray McCauley, Liberty International chairman Sir Donald Gordon and billionaire Cyril Ramaphosa, would not reveal his reasons for withdrawing.
But he said yesterday that "recent events" had culminated in the "total erosion" of his confidence in the auction house.
According to the Sunday Times, Gundelfinger bought the house for R1-million 18 years ago and is selling because his three children have moved out.
The house reportedly has five reception rooms, five bedrooms, a gourmet kitchen with a separate scullery, a swimming pool, a tennis court, four garages and a cottage.
Human Settlements Minister Tokyo Sexwale also owns a home in the neighbourhood.
The Sunday Times quoted Gundelfinger as saying the deal was struck "prior to the debacle and the disclosures in the media of the alleged irregularities".
Absa, FNB, Investec and Nedbank are reportedly investigati ng whether their employees could have been involved in pushing business the auction house's way.
The company's CEO, Rael Levitt, last month stepped down from his position after a board meeting on February 27.
Bruce Sneddon, previously the group's chief financial officer, took over from Levitt.
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