Due to court documents exposing his extravagant lifestyle amid growing financial and legal difficulties, the Chiefs boss may face estate sequestration.
Bobby Motaung, the manager of Kaizer Chiefs Football Club, is in the middle of a financial maelstrom when court documents were filed to have his estate sequestered. A Sunday World story states that Pent Up Investment CC has filed a case in the Johannesburg High Court, alleging that Motaung owes the business over R4.3 million related to a botched real estate transaction.
The chief of Pent Up Investment, Costas Couremetis, claims that Motaung has not paid the remaining balance on a R9 million judgment that was rendered in November 2009.
Motaung’s failure to honor the entire judgment amount was described by Couremetis in a signed document.
The court filing states, “The applicant instituted proceedings… and obtained judgment on or about November 12, 2009 in a sum exceeding R9-million, plus interest and legal costs, due to Lakeshore’s failure to pay the purchase price for the property in full (Motaung was listed as the sole director of Lakeshore Trading).”
More than R4.3 million is still owed as of January 2024, according to the affidavit. Motaung did not dispute the debt, but he apparently did not put much effort into paying it off.
To be fair to the response, he hasn’t attempted to contest the debt. But it’s obvious that he hasn’t been able to pay the entire amount. even after receiving numerous generous and reasonable indulgences over a long period of time,” Couremetis continued.
However, the depiction of Motaung’s opulent lifestyle created a stir.
Because of his prominent position at Kaizer Chiefs Football Club, the respondent has maintained an extremely opulent lifestyle over the years, driving a Bentley, living in a large immovable property in Houghton, wearing pricey clothing and watches, and projecting an image of being a very successful businessman.
This most recent court action adds to a long list of previous disputes. The building of Mbombela Stadium was connected to a corruption and fraud lawsuit in 2016. The case against Motaung was withdrawn because there was not enough proof.
In the same year, Motaung received a tax bill from the South African Revenue Service (SARS) of R44.7 million, according to a report by Sowetan Live.
Subsequently, Sunday World reported in 2021 that SARS had directed liquidators to retrieve R90 million from a business. wherein Bobby Motaung was the director.
In response to these most recent charges, Motaung has stayed silent. There may be long-term effects from the ongoing legal dispute. Not just for his own money, but also for his standing at one of the major football teams in South Africa.
