Fraud swoop sees string of Shabalala’s businesses and luxury cars seized

2010-08-27 00:00

ITHALA Bank CEO Sipho Shabalala has lost control of even more of his assets than was initially clear on Wednesday.

The Witness has learnt that not only his Othandweni farm and the City Royal Hotel were seized, but also a string of other businesses and luxury cars.

These include his mother’s house in Lincoln Meade, a three-bedroom guest house in Wembley, a B&B in Botha’s Hill, a Range Rover Sport, Mercedes Benz C-Class and S-Class sedans and two restaurants in Hillcrest and at King Shaka International Airport.

A curator appointed by the court will look after the assets, which have been seized because Shabalala is under suspicion in a massive procurement fraud case.

Congress of the SA Trade Union spokesperson Zet Luzipho said the labour federation is surprised that Shabalala was not arrested.

“It would have been better if we could have read in newspapers the reasons for him to be left alone. However, we can only support the government’s commitment in fighting corruption and hopefully we will learn in due course of the investigation as to why he was not arrested,” said Luzipho.

Justice spokesperson Tlali Tlali declined to discuss the progress of the investigation.

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