Controversial Auction Alliance paid R205m in secret commission payments to lawyers, bankers and liquidators A DAMNING forensic report about financial wrongdoing at controversial Auction Alliance (AA) has implicated a string of auctioneers, liquidators, attorneys, bank officials and prominent individuals in hundreds of millions of rand of secret commission payments.Although some similar transactions have been reported in the past, the forensic report, a copy of which Business Day has in its possession, shows how they were only the tip of the iceberg involving financial wrongdoing at the firm.Auction Alliance and its founder and MD Rael Levitt brought an urgent interdict in the High Court in Johannesburg last night to prevent Business Day from publishing the report’s contents.However, Judge Lotter Wepener turned down the application, with costs.The report is the product of a forensic investigation that was carried out by auditor Allan Greyling in 2012, ironically at the behest of th...
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