Breaking News
recent

Shakes Mashaba’s son owes Lotto winner R4 million & he is broke after spent money on cars, church donations and properties.

Now the Lotto winner says he is broke as he spent the rest of his winnings on properties, cars and donations to church.


Former Bafana Bafana coach Shakes Mashaba’s son reportedly borrowed R4.6 million from David Mokoatsi, who won R23 million jackpot in 2015, and is now failing to pay him back.

Mokoatsi reportedly told Sunday World that he lent his church mate the money after he told him he wanted to buy out his business partner from a Pick n Pay franchise they owned in Springs.

As part of the deal, Mashaba allegedly guaranteed Mokoatsi 35% of his shares in case he failed to pay back the money. The lawyers apparently drafted the agreement which Mashaba was reportedly happy with.

However, in papers filed in the South Gauteng High Court seen by the publication, Mokoatsi claims Mashaba has only repaid R880 000 of the loan which was made in 2015 and was meant to be paid back in instalments over 25 months.

Mokoatsi the sent a letter of demand to Mashaba, who allegedly ignored it, leading him to cancel the loan agreement, demanding the outstanding amount.

Now the Lotto winner says he is broke as he spent the rest of his winnings on properties, cars and donations to their church.

In his responding affidavit, Mashaba reportedly does not deny borrowing the money, though he says he believed it was “premature” of his friend to institute legal action as he had not defaulted on their agreement.

He further told the publication that the loan was unlawful and void, saying the court should dismiss Mokoatsi’s application as he was not a registered credit provider and could therefore not offer loans of more than R1.5 million.

He also said he did not understand how Mokoatsi came to a figure of R3.6 million as an outstanding balance and could therefore not respond properly to his application.

Mashaba could not be reached for comment.
Khabza Mkhize

The Edge Search

Powered by Blogger.