Tribunal orders sale of Maumela's R9.5 million Ferrari linked to Tembisa Hospital corruption

The Special Tribunal has authorized the sale of a Ferrari SF90 Stradale owned by Hangwani Morgan Maumela, a key figure in the Special Investigating Unit's (SIU) investigation into corruption at Tembisa Hospital. The decision to sell the vehicle, valued at over R10 million, comes after Maumela and his associates, including his mother Mboneni Benedicta Maumela, a former senior health official, tried to block the sale.

The Maumelas argued that they owned the Ferrari through the MHR Maumela Family Trust, contesting the claim that the vehicle was depreciating. However, Judge Bernard Makgabo Ngoepe dismissed these arguments, stating that the transfer of ownership to the trust was a "stratagem" intended to hinder the sale, and that the car's value was not declining as they claimed. Instead, the ongoing costs of maintenance, insurance, and storage were significant.

The tribunal accepted that the Ferrari had originally been purchased for approximately R11.13 million in April 2022 and found that insurance costs were around R100,000 a year, storage costs were R5,000 monthly, and reinstating the warranty would cost about R408,000. Therefore, investing the sale proceeds would better preserve the restrained estate's value compared to keeping the vehicle in storage.

The tribunal authorized the curator to sell the Ferrari for at least R9.5 million, with the funds to be deposited into a special interest-bearing trust account and used solely for maintaining assets under curatorship, with SIU approval. This ruling is part of the SIU's efforts to seize luxury properties, high-performance vehicles, and other assets allegedly acquired through unlawful government contracts.