Johannesburg –  A man who lent his friend millions of rand 3 years ago for a property development project has recently found out that he will most likely never be repaid.

Fillippus Opperman has taken legal action against his friend Jacobus Boonzaaier who is now 7 million rand deep in debt accumulated with interest since the loan transaction took place.

Opperman was told that his loan agreement was unlawful in terms of the National Credit Act since he was not legally registered as a credit provider. Opperman’s claim will now be forfeited to the state before further decisions will be made.

Opperman’s lawyer said that the case would serve as a lesson for the public, especially others who are in a similar position as the plaintiff.

Meanwhile, Boonzaier’s assets have been legally seized until he figures out a way to repay his debt or meet the claims of Opperman – who will probably never see his money again.