R9.5m Ferrari linked to Thembisa Hospital corruption probe cleared for sale

A R9.5 million Ferrari SF90 Stradale linked to Hangwani Maumela, a central figure in the Special Investigating Unit’s probe into alleged R2 billion looting at Thembisa Hospital, has moved a step closer to being sold after a family trust lost its bid to block the sale in the Pretoria High Court.

Acting judge SG Maritz dismissed an urgent application brought by the MHR Maumela Family Trust, finding that the trust had given conflicting and irreconcilable accounts of who actually owned the supercar, and had failed to show any legal basis for stopping its sale.

Asset frozen amid corruption probe

The Ferrari is one of several luxury vehicles preserved under a Special Tribunal order granted in September 2025 as part of the SIU’s investigation into corruption and maladministration linked to the Thembisa Hospital scandal.

In August this year, the tribunal authorised curator Jacobus Gideon Louw van Wyk to sell the car for no less than R9.5 million, with proceeds to be held in an interest-bearing trust account until the main case is resolved. Van Wyk argued that ongoing storage, insurance and maintenance costs were steadily eroding the value of the preserved assets, with insurance and storage costing roughly R100,000 a year and R5,000 a month respectively, plus a further R408,000 required to reinstate the vehicle’s warranty.

The Ferrari was sold to Scuderia South Africa for R9.6 million on 18 August, but the deal was paused a day later after the trust lodged an appeal, arguing that the appeal automatically suspended the sale order.

Five conflicting versions of ownership

Judge Maritz rejected that argument, ruling that the order was interim in nature and simply regulated how preserved property was managed, meaning the appeal did not suspend the sale.

In his judgment, Maritz highlighted at least five different versions of who actually owned the Ferrari:

• The trust claimed in tribunal papers that it owned the vehicle.
• Maumela stated in the same papers that the SIU had confirmed under oath that he was the owner.
• Drive Time Auto CC was the registered owner when the car was frozen.
• The Maumela side later claimed Drive Time had lent the trust R7.8 million against the vehicle — a claim Drive Time denied on three separate occasions.
• A bank notification showed a third company, More Concerts (Pty) Ltd, had paid the R11.1 million balance of the purchase price to Scuderia.

The curator’s attorneys also noted that Maumela had told police the transfer of the vehicle into the trust’s name was fraudulent — a claim the trust did not dispute.

“Its deponent attributed ownership to the trust and to himself, told the police that the trust’s registration was fraudulent, told the tribunal that the vehicle was registered in another’s name as security, and suggested that yet another entity paid the price,” Maritz said in his ruling. “The applicant has not attempted to reconcile these versions.”

The judge made no finding on who actually owns the Ferrari, but concluded that the trust’s appeal had no reasonable prospects of success and that it would suffer no irreparable harm from the sale proceeding, since the proceeds would simply sit in an interest-bearing account pending the outcome of the main case.

“Selling a valuable, preserved asset pending an appeal is not out of the ordinary,” Maritz said, adding that no exceptional circumstances existed to justify halting the sale.

SIU welcomes ruling

Van Wyk had previously agreed not to finalise the sale before 4pm last Wednesday but declined to extend that deadline further. The trustees of the MHR Maumela Family Trust were ordered to pay the costs of the application, although Maritz declined the curator’s request for punitive costs or for the trustees to be held personally liable.

In a statement issued on Monday, the SIU welcomed the judgment as a boost for its asset preservation powers.

“This judgment is a significant affirmation of the preservation and civil recovery mechanisms available to the SIU through the Special Tribunal to prevent the dissipation of assets that are the subject of corruption investigations and related civil proceedings,” the unit said, adding that it remains committed to recovering losses suffered by the state and ensuring assets linked to unlawful conduct are preserved in the public interest.

The SIU confirmed it has referred evidence of possible criminal conduct uncovered during its investigation to the National Prosecuting Authority for further action.

Source: R9.5m Ferrari linked to Hangwani Maumela could be sold after court ruling — IOL