The Special Investigating Unit (SIU) has welcomed a Special Tribunal judgment authorising the sale of a Ferrari SF90 Stradale tied to alleged corruption at Tembisa Hospital, where approximately R2 billion is believed to have been looted.
This follows an application brought before the tribunal by SIU-appointed curator, Mr Jacobus Gideon Louw Van Wyk, seeking authorisation to sell the vehicle.
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The luxury vehicle, whose value is estimated at R10 million, belongs to the MHR Maumela Family Trust and was preserved under a 2025 order pending finalisation of the SIU’s main application.
Judge Bernard Ngoepe authorised the sale, citing mounting insurance and storage costs and the need to preserve value through liquidity. The proceeds, expected to exceed R9.5 million, will be deposited into an interest-bearing trust account under curatorship and may only be used with SIU approval.
The tribunal dismissed with costs a counterclaim by the “Maumela Syndicate” – which includes the MHR Maumela Family Trust and Hangwani Maumela, seeking van Wyk’s removal.
Read More: Court orders forfeiture of R326m in assets linked to Morgan Maumela syndicate
Acting Head of the SIU, Leonard Lekgetho, said the ruling ensures assets linked to corruption are properly managed and their value protected for the benefit of the state.
“The SIU welcomes the Special Tribunal’s decision to authorise the sale of the Ferrari. The purpose of preservation is to protect the value of assets pending the finalisation of legal proceedings, and this judgment provides a prudent mechanism to achieve that objective while avoiding unnecessary and ongoing costs,” said Lekgetho.
- The Special Tribunal authorised the sale of a Ferrari SF90 Stradale linked to alleged corruption at Tembisa Hospital involving approximately R2 billion looted.
- The Ferrari, valued at around R10 million, belongs to the MHR Maumela Family Trust and was under a 2025 preservation order.
- Judge Bernard Ngoepe approved the sale to avoid mounting insurance and storage costs and to preserve the vehicle's value through liquidity.
- Proceeds from the sale, expected to exceed R9.5 million, will be held in an interest-bearing trust account and require SIU approval for use.
- The tribunal dismissed a counterclaim by the "Maumela Syndicate" seeking the removal of curator Jacobus Gideon Louw Van Wyk, with costs awarded.
