Hamilton Ndlovu SARS earnings how much money broke

Photo: Twitter screenshot

Flashy businessman Hamilton Ndlovu ‘banned from selling his cars’

His unpaid tax bill has soared to R36 million, but for Hamilton Ndlovu, there will be no ‘flash sale’ of his luxury vehicles or sprawling properties.

Hamilton Ndlovu SARS earnings how much money broke

Photo: Twitter screenshot

A division of the Special Investigating Unit (SIU) has slapped an asset sales ban on Hamilton Ndlovu, the boastful businessman who caught the eye of SARS – after he famously flaunted his wealth on Instagram.

Who is Hamilton Ndlovu?

The order, handed down earlier this week, ‘prohibits and restrains’ the disgraced tycoon from selling on his properties, his cash assets, and any of the vehicles he was so happy to brag about before the taxman got involved:

“The Special Tribunal has granted a preservation order interdicting, restraining, and prohibiting businessman Thabiso Hamilton Ndlovu from disposing of his assets, money properties, and properties pending the institution of the review proceedings to be instituted by the SIU the National Health Laboratory Service (NHLS).”

Unpaid tax bill stings Hamilton Ndlovu

One of Hamilton Ndlovu’s most notorious deals came in 2020, after he secured a procurement agreement with the National Health Laboratory Services (NHLS). Several companies in his name also received payments, with almost R50 million clearing in various bank accounts. However, the magnate’s VAT streams were not in line with this mega windfall – and SARS came down on him like a ton of bricks.

The ostentatious millionaire caused a scene on social media, as he uploaded photos of a fleet of luxury cars purchased at ‘virtually the same time’. Their estimated value totalled R10 million, and alarm bells starting ringing. Ultimately, our tax-shy friend caught himself out by uploading videos of his costly collection online.

SIU block sales of assets worth millions

His estimated outstanding tax bill stood at R36 million earlier this year. And if Hamilton Ndlovu thought he could raise the cash with a flash sale of his assets, the bloke now stands corrected. The SIU’s Special Tribunal further clarified: