MBABANE - The State has recovered over E700 000 from auctioned properties that were seized through POCA.
POCA is an acronym for the Prevention of Organised Crime Act. POCA relates to the recovery and confiscation of proceeds made from criminal activities and money laundering. It also addresses the confiscation and recovery of illegally-gained funds, property and assets, as well as the investigations into the offence. Yesterday the State made over E700 000 from the items that were auctioned at the High Court yesterday.
Competition
Among the auctioned items was a four-bedroom house situated on Eswatini Nation Land at Mlindazwe. The house with a reserve price of E450 000 was sold for E552 000 after a tight competition between a male and a female bidder. The female bidder lowered her bidding card when the auctioneer Sakhile Ndzimandze arrived at E551 000. The male bidder, who preferred anonymity for security reasons remained the only bidder, resulting in him winning the house when Ndzimandze arrived at E552 000.
Plot
Another item that was sold at a higher price was a plot measuring 460 square meters on a title deed with a 99-year lease at Mahwalala. The plot with a reserve price of 100 000 was sold for E131 000. The plot was purchased by a male bidder after a tight competition with about 20 bidders. Another eye catching item was a king-size sleigh bed with a reserve price of E3 000. The bed was finally sold for E6 000. The bidders also competed for a brand new base set, which was sold for E4 600. The bidders were also interested in a six-seater couch set, which was sold for E9 000. Other sold items included 2x5000 water tanks, single beds, wheel barrow, corrugated irons, brick forces, bedroom suit, kitchen scheme; leather cushions side tables, loader washing machine, cellphones among other items. Ndzimandze had informed the bidders that as an auctioneer, he had to be reasonable in order to recover the money even though some items had no reserve prices. Meanwhile, a police officer managed to purchase a single bed and a side table all at E1 100 after he faced no competition. The auction was attended by about 10 bidders including businesspeople, civil servants and lawyers.
