10 Feb 2012
It is also alleged that there have been misappropriations of funds held in trust and funds paid to the franchise on behalf of their clients.
Herschel Jawitz, chief executive officer of Jawitz Properties says they were alerted to possible problems when their head office started receiving complaints at the end of 2011 from property owners who were not being paid their rent, which was paid to the Jeffreys Bay franchise office by tenants.
“When these problems were not being resolved by the franchise owner, we realised there was a problem and launched a full investigation of our own including appointing auditors to audit the trust account,” says Jawitz.
The group has taken immediate steps to cancel the franchise agreement and is seeking an urgent court interdict against Block, preventing her from having any access to the business and the business bank accounts.
Jawitz Franchise Systems has also laid criminal charges against the franchise owner Block with the Jeffreys Bay police.
In addition, the matter has been reported to the Estate Agency Affairs Board (the EAAB), the industry regulatory body for further investigation.
The EAAB has frozen the franchise’s trust account and if found guilty, Block could have her license revoked.
“Our first priority is to our clients and we are doing whatever we can to manage the situation.”
Townhouse for sale in Highveld R 1 190 000
House for sale in Kloof R 5 450 000
House for sale in Vanderbijlpark Sw5 R 690 000
House for sale in Verwoerdpark R 1 079 000
Commercial Property for sale in Rosebank R 43 500 000
Commercial Property for sale in Rosebank R 4 350 000
Commercial Property for sale in Bryanston R 52 500 000
Commercial Property for sale in Sandton R 8 520 000
Commercial Property for sale in Sandton R 9 006 000
Commercial Property for sale in Sandton R 17 385 000
If you are using Internet Explorer 8 or higher, please verify that your Internet Explorer compatibility view settings are not enabled.
For the best browsing experience, update to the latest Version of Internet Explorer or try out Google Chrome or Mozilla Firefox.
Please contact our Property24 Support Team for further assistance. Tel. +27 (0)861 111 724