Johannesburg Property Moguls Fight It Out

Oct. 11, 2011 - PRLog -- Controversial Johannesburg businessman Zunaid Moti and 7 of his bodyguards allegedly attacked property tycoon Sayed Mia and his bodyguard at a function held at the Sandton Convention Centre on Saturday 1 October 2011.  

Moti and Mia have been embroiled in protracted settlement negotiations concerning a Pretoria building that Mia sold to Moti for R90 million. Mia alleges that the deal was fraudulent after he discovered that assets Moti used as part payment were in fact encumbered to Investec Private Bank (SA) and Investec (Mauritius).  

Mia hired private investigation company IRS Forensic Investigations to investigate the alleged irregularities pertaining to the building deal. This is what apparently infuriated Moti. Moti had previously tried to have his brother-in-law, controversial liquidator Enver Motala, mediate between him and Mia. When the attempt at mediation failed, things turned ugly with Moti allegedly threatening Mia and his sons. During the alleged attack on Mia and his bodyguard on 1 October 2011, Mia's bodyguard was assaulted and his firearm was taken from him, allegedly by bodyguards working for Mia. One of Moti's bodyguards was arrested at the scene. SAPS are investigating.

A source who did not want to be named stated that there is an on-going investigation by the SAPS Specialist Commercial Crimes Unit as well as the Special Investigating Unit into various allegations revolving around both Moti and Mia.