Mpisanes give R5.6m in cash for cars

2013-08-02 10:33
Gallery  |  click on thumbnail to view larger image

Luxury cars seized from ex-cop

Assets to the tune of R140m were removed from Durban businessman Sibusiso "S'bu" Mpisani's home -- his fleet of luxury vehicles among them. See the pictures.

Durban - Fraud accused businesswoman Shauwn Mpisane and her husband S’bu handed over more than R5.6m in cash in return for six the cars seized by the Asset Forfeiture Unit, The Mercury reported on Friday.
 
Cars to the value of R22m were seized from the Mpisanes, the National Prosecuting Authority said in a statement in February.

The cars included a Rolls Royce Phantom, a Rolls Royce Ghost, a Maserati, a Ferrari Scaglietti, a Porsche Cayenne Turbo and a Panamera Turbo, two armoured BMW 5 series and two Hummers.

Now two of their Porsches, the Maserati, the Ferrari, a BMW and a Dodge Ram are back in the couple’s showroom-styled garage at their La Lucia home.
 
Late on Thursday, they contacted the court-appointed curator Trevor White, saying they wanted their cars back.

“I told them they could have them back if they gave me the value of the cars, about R15m in cash,” White said. “They transferred R5.63m and I authorised them to take six vehicles.”

White said the deal made sense. “It was a straight exchange. I have cash in the bank and no assets at risk.”

The head of the Asset Forfeiture Unit in KZN, Knorx Molelle, said while White had the final say, he had sanctioned the deal.
 
“This way there are no storage fees, no insurance costs and no issue around depreciation. We wanted to preserve the assets pending a possible forfeiture. Cash is better than cars and this is a more economic arrangement,” he said.

Attempts to contact the Mpisanes on Thursday night were unsuccessful, The Mercury said.

Read more on:    sibusiso mpisane  |  shauwn mpisane  |  durban

Join the conversation!

24.com 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.
NEXT ON NEWS24X

24.com 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
80 comments
Comments have been closed for this article.

Inside News24

 
ADVERTORIAL
Competition regulation for a growing and inclusive economy

ADVERTORIAL: The Competition Commission of South Africa is conducting advocacy work in the South African automotive aftermarket industry and has gazetted a Draft Code of Conduct for public comment.

/News
 

How to open a beer bottle without an opener

Do the right thing and never be thirsty again…

 
 

You won't want to miss...

WATCH: Man films himself going down water slide upside down as things go very wrong…
WATCH: Conor McGregor: Notorious the trailer
Best date night restaurants in South Africa
WATCH: Ryan Reynolds offers fans a free tattoo in new Deadpool 2 teaser
Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

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 24.com network.

Settings

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.