FORMER Auction Alliance CEO Rael Levitt is allegedly trading unlawfully in real estate without the required certification, according to the Estate Agency Affairs Board (EAAB).To lawfully trade in — and make profit from — real estate, an individual or company must be in possession of a valid Fidelity Fund Certificate (FFC), that only the EAAB can issue, in terms of the Estate Agency Affairs Act.However, according to EAAB CEO Bryan Chaplog, at least three property companies, in which Levitt is listed as a director do not hold the required certificate: Auction Alliance, Dealcom, and Dealcom Capital.Dealcom, which was started in about 2007, has become the new brand of Levitt’s property enterprises. Two former directors who spoke to Business Day this week confirmed that Dealcom administered many of Levitt’s property deals.But Chaplog insists that Dealcom has not applied for an FFC through the EAAB, and, therefore, is trading in an irregular manner."If a firm or any individual is renderin...
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