Thabiso Hamilton Ndlovu

SARS Freezes Businessman Hamilton Ndlovu’s Bank Accounts, Seizes Luxury Cars

Businessman Thabiso Hamilton Ndlovu has come under the spotlight after the South Africa Revenue Service (SARS) froze his bank accounts and seized three of his Porsche luxury vehicles.

It is also reported that the tax authorities are currently working on identifying further assets and properties owned by Ndlovu.

Shooting himself on the foot, Hamilton Ndlovu posted a video in May this year boasting about buying 5 high-end luxury cars for his family worth R11 million. The vehicles included a Lamborghini Urus super SUV, two Porsches, and two Jeeps.

The businessman was forced to issue a statement apologizing for his “poor taste” in showing off at a time when most families were finding it difficult to make ends meet after the video went viral.

It was too late since the authorities had already started looking into how Ndlovu had accrued his wealth and they were also interested in knowing if the flamboyant businessman had paid the relevent taxes.

After the North Gauteng High Court issued a provisional preservation order, SARS agents conducted a search and seizure operation at Hamilton’s residence on 11 September 2020.

It was reported that SARS seized three of Ndlovu’s Porsches and froze over R6-million in his bank accounts and the assets have since been placed under the curatorship of Zaheer Cassim of Cassim Incorporated to be preserved to pay potential tax debts.

Thabiso Hamilton Ndlovu

Among the known assets listed are a Porsche 911 Carrera Cabrio, a Porsche Cayenne S Coupe, and a Porsche Panamera GTS Sport, all of which have ownership dates in June 2020. SARS is still working on identifying further assets owned by Ndlovu.

 City Press   reported that the Hawks started investigating the businessman after he posted the video of his new vehicles on social media. The publication claims the Hawks are investigating allegations that Ndlovu benefited from an Eastern Cape PPE contract.

“He’s been under investigation since he posted the video. It’s just a matter of time before we pounce on him. We’re also in talks with the Special Investigating Unit about seizing what we deem to be proceeds of crime. He’s one of the people thought to have benefited from irregular contracts that are being investigated by the Hawks,” a source in the security cluster told City Press.

City Press further reported that the Companies and Intellectual Property Registration Office is in the process of de-registering Hamiltonn Holdings for failing to submit its tax returns.


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