Morgan Maumela’s Ferrari sells for R10 million

A luxury Ferrari linked to the multibillion-rand Tembisa Hospital corruption scandal has been sold for R10.1 million.

The metallic blue 2022 Ferrari SF90 Stradale, which has travelled just a little over 300 kilometeres, was being auctioned as the Special Investigating Unit (SIU) continues its efforts to recover assets linked to businessman Hangwani Morgan Maumela and the alleged looting of Tembisa Hospital.

The vehicle was sold through Bidders Choice, with the online auction opening on Friday, November 6, and closing on Wednesday, November 11.

A Special Tribunal order required the car to be sold for no less than R9.5 million.

The Ferrari, which boasts a striking blue exterior, yellow brake callipers and a luxurious interior, is among the high-value assets targeted in the investigation into alleged corruption involving hospital procurement contracts.

READ MORE: Maumela’s R10m Ferrari goes on auction on Friday

The auction follows a Special Tribunal order authorising the disposal of the vehicle, after Maumela and his family trust unsuccessfully challenged the sale at the High Court.

The SIU has linked Maumela to an extensive network of companies and transactions under investigation in connection with the alleged R2-billion Tembisa Hospital corruption scandal.

The investigation has exposed allegations of irregular procurement, inflated contracts and the diversion of public healthcare funds into private business interests. The Ferrari’s auction represents another step in efforts to recover assets allegedly acquired through proceeds of unlawful activities.

While the blue Ferrari is attracting potential buyers, investigators are also pursuing eight other luxury vehicles allegedly concealed from authorities. These include four Ferraris, three Porsches and a Bentley.

The pursuit of the vehicles forms part of a broader asset recovery process aimed at ensuring that property linked to alleged corruption is preserved or recovered for the state.

READ MORE: SIU secures R42.4 million in assets linked to Tembisa Hospital bribes

The auction has brought renewed attention to the Tembisa Hospital scandal, which has become a symbol of alleged extravagance funded at the expense of public healthcare.

A luxury Ferrari linked to the multibillion-rand Tembisa Hospital corruption scandal has been sold for R10.1 million.

The metallic blue 2022 Ferrari SF90 Stradale, which has travelled just a little over 300 kilometeres, was being auctioned as the Special Investigating Unit (SIU) continues its efforts to recover assets linked to businessman Hangwani Morgan Maumela and the alleged looting of Tembisa Hospital.

The vehicle was sold through Bidders Choice, with the online auction opening on Friday, November 6, and closing on Wednesday, November 11.

A Special Tribunal order required the car to be sold for no less than R9.5 million.

The Ferrari, which boasts a striking blue exterior, yellow brake callipers and a luxurious interior, is among the high-value assets targeted in the investigation into alleged corruption involving hospital procurement contracts.

READ MORE: Maumela’s R10m Ferrari goes on auction on Friday

The auction follows a Special Tribunal order authorising the disposal of the vehicle, after Maumela and his family trust unsuccessfully challenged the sale at the High Court.

The SIU has linked Maumela to an extensive network of companies and transactions under investigation in connection with the alleged R2-billion Tembisa Hospital corruption scandal.

The investigation has exposed allegations of irregular procurement, inflated contracts and the diversion of public healthcare funds into private business interests. The Ferrari’s auction represents another step in efforts to recover assets allegedly acquired through proceeds of unlawful activities.

While the blue Ferrari is attracting potential buyers, investigators are also pursuing eight other luxury vehicles allegedly concealed from authorities. These include four Ferraris, three Porsches and a Bentley.

The pursuit of the vehicles forms part of a broader asset recovery process aimed at ensuring that property linked to alleged corruption is preserved or recovered for the state.

READ MORE: SIU secures R42.4 million in assets linked to Tembisa Hospital bribes

The auction has brought renewed attention to the Tembisa Hospital scandal, which has become a symbol of alleged extravagance funded at the expense of public healthcare.

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A luxury Ferrari linked to the multibillion-rand Tembisa Hospital corruption scandal has been sold for R10.1 million.

The metallic blue 2022 Ferrari SF90 Stradale, which has travelled just a little over 300 kilometeres, was being auctioned as the Special Investigating Unit (SIU) continues its efforts to recover assets linked to businessman Hangwani Morgan Maumela and the alleged looting of Tembisa Hospital.

The vehicle was sold through Bidders Choice, with the online auction opening on Friday, November 6, and closing on Wednesday, November 11.

A Special Tribunal order required the car to be sold for no less than R9.5 million.

The Ferrari, which boasts a striking blue exterior, yellow brake callipers and a luxurious interior, is among the high-value assets targeted in the investigation into alleged corruption involving hospital procurement contracts.

READ MORE: Maumela’s R10m Ferrari goes on auction on Friday

The auction follows a Special Tribunal order authorising the disposal of the vehicle, after Maumela and his family trust unsuccessfully challenged the sale at the High Court.

The SIU has linked Maumela to an extensive network of companies and transactions under investigation in connection with the alleged R2-billion Tembisa Hospital corruption scandal.

The investigation has exposed allegations of irregular procurement, inflated contracts and the diversion of public healthcare funds into private business interests. The Ferrari’s auction represents another step in efforts to recover assets allegedly acquired through proceeds of unlawful activities.

While the blue Ferrari is attracting potential buyers, investigators are also pursuing eight other luxury vehicles allegedly concealed from authorities. These include four Ferraris, three Porsches and a Bentley.

The pursuit of the vehicles forms part of a broader asset recovery process aimed at ensuring that property linked to alleged corruption is preserved or recovered for the state.

READ MORE: SIU secures R42.4 million in assets linked to Tembisa Hospital bribes

The auction has brought renewed attention to the Tembisa Hospital scandal, which has become a symbol of alleged extravagance funded at the expense of public healthcare.