Hamilton Ndlovu in trouble as SARS seizes cars, freezes bank accounts and targets more assets
South Africa Revenue Authority (SARS) has executed a provisional preservation order against businessman Hamilton Ndlovu and his companies, and the business man saw three of his luxury Porsches seized and his bank accounts with around R6 million frozen.
SARS moved to seize the flamboyant businesman’s assets on the 11th of September 2020, barely 24 hours after North Gauteng High Court issued the order and placed his multi-million rand worth of assets under the curatorship of Zaheer Cassim of Cassim Incorporated.
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The preservation order will ensure some or all of Ndlovu’s assets are available to settle his tax obligations after his debts are determined.
The order revealed Ndlovu owns or has interests in five companies – Hamiltonn Holdings, Hamilton Projects, Mok Plus One, Abompetha, and Feliham.
SARS has since moved to lay claim on his Porsche 911 Carrera Cabrio, a Porsche Cayenne S Coupe and a Porsche Panamera GTS Sport, all of which were bought in three months ago and some R6-million in his company bank accounts.
Read More: Video: Hamilton Ndlovu buys five new top cars at once
SARS is still looking for more assets owned by the businessman.
The flashy young businessman brought the country to a standstill after a video surfaced on social media revealing his newly bought five cars that included three Porsches, a Lamborghini Urus and a Jeep Grand Cherokee. The cars costed him around R11–million.
Ndlovu promptly apologised for the video after it sparked outrage with some citizens linking him to corrupt activities.
Read More: Thabiso Hamilton Ndlovu apologizes for the luxury cars viral video
Savanna News understands The Hawks started investigating Ndlovu after the video went viral and he has since been linked to multi million dollar PPE contracts in Eastern Cape.
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Hamilton Ndlovu in trouble as SARS seizes cars, freezes bank accounts and targets more assets