Thabiso Hamilton Ndlovu: A Good Example Why Showing Off Is A Bad Idea

Hamilton Ndlovu: A Good Example Why Showing off Is A Bad Idea

Thabiso Hamilton Ndlovu: A Good Example Why Showing Off Is A Bad Idea

Thabiso Hamilton Ndlovu Johannesburg businessman couldn’t wait to show off his new fleet of cars and his urge landed him in wrong hands.

Thabiso Hamilton Ndlovu placed himself under the microscope in May this year after he posted a video 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.

Hamilton Ndlovu is currently sweating at the moment after the South Africa Revenue Service (SARS) froze his bank accounts and seized three of his Porsche luxury vehicles.

The tax authorities are currently working on identifying further assets and properties owned by the flashy businessman.

After the video went viral, 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.

At that point, however, it was already too late as the authorities had started looking into how Ndlovu had accumulated his wealth. The authorities were also interested in knowing if the flamboyant businessman had paid the requisite taxes.

The country’s elite crime-busting entity the Hawks started looking into his wealth. 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.

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

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 reports that the Hawks started investigating Ndlovu after he posted the video of his new vehicles on social media and that 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 reported that the Companies and Intellectual Property Registration Office is in the process of deregistering Hamiltonn Holdings for failing to submit its tax returns.

Below are some of the responses over the issue on social media:

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