Court allows SIU to sell Maumela's R9.5m Ferrari

The Gauteng High Court in Pretoria has dismissed an urgent application by Hangwani Maumela to stop the sale of his Ferrari SF90 Stradale hybrid supercar.

The Special Investigating Unit (SIU) received permission to sell the vehicle for at least R9.5 million. The proceeds will be placed in interest-bearing accounts and can only be used with SIU approval. The funds cannot be used to pay the curator's fees.

Maumela and the MHR Maumela Family Trust brought the application to prevent the sale of the car, which is subject to a preservation order. Acting Judge SG Maritz found the applicants failed to show a clear right to stop the sale or demonstrate that they would suffer irreparable harm if the sale proceeded. The court also noted the trust provided conflicting accounts regarding the ownership of the vehicle. The judge noted that the application was filed late and failed to comply with certain court rules.

The SIU alleges the Ferrari was purchased using money obtained through irregular health contracts at Tembisa Hospital. Maumela is accused of leading a syndicate that allegedly looted nearly R1 billion, part of a larger R2 billion procurement scandal at the hospital.

SIU spokesperson Selby Makgotho said the judgment allows preserved assets to be managed practically to protect their value. He said ongoing costs for storage, insurance, and maintenance could reduce the value of the estate while legal proceedings continue. The sale proceeds will remain secure and available pending the outcome of the litigation.

Makgotho said the ruling affirms the ability of the SIU to use civil recovery mechanisms to prevent the loss of assets during corruption investigations. He said the SIU remains committed to recovering losses suffered by the state and ensuring assets linked to unlawful conduct are preserved in the public interest.