Yengeni’s latest ride ’n wreck

2010-11-28 08:51

ANC bigwig Tony Yengeni’s ­troubles with flashy cars and the ­estate of murdered mining magnate Brett Kebble seem to have no end.

The trustees, who claim that Yengeni owes the Kebble estate R260?000, are reviving their inquiries into his wealth after recent disclosures in City Press about the politician’s illegally acquired company directorships and his fleet of cars worth several million rands.

Now City Press has learned that an insurance company paid out R1.3 million after a luxury Maserati GranTurismo belonging to Yengeni was wrecked in a high-speed collision three months ago.

Records indicate that Yengeni smashed into a barrier on the N1 near Cape Town on August 22 after he hit an “enormous puddle of water in the roadway” and lost control of the car.

It is the latest in a string of insurance claims apparently paid out by insurer Santam over the past five years for damage to vehicles owned by Yengeni and his wife, Lumka, an ANC MP.

Yengeni – who is listed as the registered owner of two luxury Maseratis worth an estimated R3.4 million – would not be drawn on the matter. “I prefer not to comment,” he said.

His lawyer, Brian Kahn, has also refused to discuss the legal tussle with the trustees of the Kebble ­estate.

Hans Klopper, one of the joint trustees of the Kebble estate, confirmed this week that their investigations into six payments allegedly made by Kebble to Yengeni between May 2003 and December 2004 were “continuing”, and that the trustees were watching reports about Yengeni’s lavish lifestyle “with some ­interest”.

City Press has learned that since 2005 Santam has paid out no fewer than nine claims for damage to vehicles owned by the Yengenis, including a Mercedes-Benz, a BMW M5, a BMW X6 and a BMW X5.

Lumka Yengeni is listed as the policy holder. She did not respond to requests for an interview.

In August and September this year the company paid out R19 000 for damage to a Volkswagen Eos, more than R7?000 for a BMW X5, R8?700 for damage to a BMW X6 and R1.3?million for the Maserati.

City Press understands that the wrecked Maserati is in Santam’s possession and the company has not finalised its investigation.

A spokesperson for Santam, Daniella Charles, said that “although we would like to be of assistance and answer your questions, we cannot share any policy-holder information as it is confidential in nature”.

David Sampson, the head of transport network information at Cape Town’s department of transport, confirmed the Maserati accident this week and said an accident ­report showed that Tony Yengeni was the driver.

This is not the first time that a Maserati linked to Yengeni has been in the headlines. In October 2005, Cape Town newspapers reported that a blue Maserati belonging to a “TS Yengeni” had allegedly crashed into a Mercedes-Benz in the city earlier in the year. At the time, Yengeni denied being involved, claiming he had never owned a Maserati.

A week after the incident, ownership of the Maserati was reportedly transferred to Kebble.

In addition to the R260 000 the trustees of the Kebble estate are seeking, Yengeni also allegedly received R840 000 via a shelf company, Tuscan Mood, at Kebble’s instruction, over an 18-month period from July 2003.

Yengeni was convicted of fraud in 2003 for failing to declare a discount on a Mercedes 4x4 he received from an arms dealer. He served only four months of a four-year sentence. Ten months after his release he was arrested for drunk driving, but he was later acquitted.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.