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[QUOTE="Queen, post: 87669, member: 27"]
Two Windhoek properties tied to the SME Bank scandal are heading to auction for the third time after previous winning bidders ghosted on payment.

The debt behind the auctions
[LIST]
[*]Enock Kamushinda owes N$140 million to SME Bank liquidators under a 2021 High Court settlement.
[*]Interest stacks at 20% per annum on top of that figure.
[*]Kamushinda coughed up only N$3 million before refusing further payments.
[*]SME Bank collapsed into insolvency back in 2017 after N$247 million allegedly vanished.
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Properties on the block
[LIST]
[*]Monsoon Investments CC owns an 11-bedroom Kleine Kuppe residence with a pool and covered braai area.
[*]Harrogate Investments holds a 1,498-square-metre property in Windhoek's Eros area.
[*]Both entities are linked to Kamushinda's corporate interests.
[/LIST]
Why is this attempt number three
[LIST]
[*]Winning bidders at both prior auctions failed to pay up after bidding closed.
[*]Liquidators are now requiring upfront deposits to prevent repeat no-shows.
[*]N$150,000 must hit the deputy sheriff's trust account for the Kleine Kuppe property.
[*]Eros bidders need N$300,000 deposited before the March 17 auction starts.
[/LIST]
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