High Court stops alleged tender fraudster Hangwani Maumela's bid to sell Ferrari

The Gauteng High Court has dismissed alleged tender fraudster Hangwani Maumela’s bid to stop the sale of his Ferrari. 

The Special Investigating Unit (SIU) obtained a preservation order over the vehicle, worth at least R11 million, after it was allegedly bought with money obtained through irregular tenders.

Maumela is accused of leading a syndicate that allegedly looted almost r1 billion through irregular health contracts at the Tembisa Hospital.

While he had approached the High Court in an attempt to prevent the sale of his seized Ferrari, the court has ruled in favour of the SIU.

It found that Maumela’s legal team failed to show that he would suffer irreparable harm if the sale proceeded. 

SIU spokesperson Selby Makgatho said, “The SIU welcomes the judgment as it affirms the principle that preserved assets may be managed in a practical manner that protects and preserves their value while legal proceedings continue. 

The High Court recognised that ongoing storage, insurance and maintenance costs could erode the value of the preserved estate, while the sale proceeds would remain secure and available pending the outcome of the litigation.”

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