The Estate Agency Affairs Board of SA has painted a bleak picture of embattled Beyers Realty Group’s financials, saying none of the R8m worth of deposits for 29 purchasers and 26 tenants has been recovered. A Cape Times report notes the money was withdrawn from the company’s Standard Bank trust account. Beyers was liquidated in October after millions went missing from an account.

Earlier this week, liquidators confirmed they were investigating allegations that directors Beyers Swanepoel-Trollip and his husband and business partner, Leonard Swanepoel-Trollip, established an estate agency in Perth, Australia, to where they are suspected to have absconded.

Beyers Realty Group curator Thomas Makupo said seven of the affected purchasers submitted claims totalling R3m but were unable to refund the deposits paid into the Standard Bank account. Makupo said attention of the affected creditors was directed to the provisions of sections 18 and 19 of the Estate Agency Affairs Act dealing with claims against the Estate Agency Affairs Board from the Estate Agents Fidelity Fund.

Full Cape Times report (subscription needed)