HomeLocalBusiness tycoon’s plane to go under the hammer

Business tycoon’s plane to go under the hammer

Aprivate jet belonging to business tycoon John Arnold Bredenkamp is set to go under the hammer tomorrow to settle a $3,8 million debt to businessman Yaqub Ibrahim Mohammed.

By XOLISANI NCUBE

The debt accrued between 2000 and 2001.

According to an advertisement by Revelations Auctioneers, the private jet will be sold to the highest bidder at Charles Prince Airport and bidders will be required to pay a deposit of $50 000.

The sale of the jet is as per instruction of the High Court following a ruling by judge, Justice Pricilla Chigumba in 2016 who ordered that the businessman pays back Mohammed his $3,8 million.

“Duly instructed by the sheriff of the High Court of Zimbabwe, we are offering the following movable property for sale by public auction at Charles Prince Airport on Monday 18 December 16, 2017 at 14:00 hours, HC 8103/14 Ykabu Mohammed vs John Arnold Bredenkamp,” reads the advert.

According to the court papers, Bredenkamp had failed to repay the money despite agreeing to do so in 2012 at a meeting called by former prosecutor general Johannes Tomana to encourage the parties to have an out-of-court settlement.

Bredenkamp reportedly promised to settle the debt by February 2013 but failed.

Justice Chigumba in her ruling noted that at one time, Bredenkamp tried to pay $3,5 million into an offshore account in Jersey but the payment did not go through because the source of the funds was unclear.

At the time, the businessman was also under investigation by the serious fraud squad.

Bredenkamp had argued that he did not borrow the money personally, but had done so on behalf of a company called KMC which was operating in the Democratic Republic of Congo at the time.

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