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.

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.