Hamilton Ndlovu money laundering

Gauteng businessman Hamilton Ndlovu showing off his five luxury cars bought in one day – Twitter / @GuyTaylor10

SARS seize assets of flashy businessman Hamilton Ndlovu

The flamboyant businessman infamously posted on social media how he bought 5 luxury cars worth R11 million in one day.

Hamilton Ndlovu money laundering

Gauteng businessman Hamilton Ndlovu showing off his five luxury cars bought in one day – Twitter / @GuyTaylor10

Glitzy Gauteng businessman Hamilton Ndlovu’s showy stance appears to have caught up with him after the SA Revenue Service (SARS) reportedly froze his bank accounts and seized three of his luxury cars earlier this week.

SARS reportedly obtained a provisional preservation order allowing it to seize three of Ndlovu’s Porsches and freeze R6 million in his companies’ bank accounts.

Hello Hamilton!

SARS conducted a search-and-seizure operation at the businessman’s residence earlier this month.

Ndlovu lit up social media in May after he posted a video boasting about buying a fleet of luxury vehicles worth more than R11m in just one day.

The showy stunt seemingly spurred SARS into action.

YouTube: Thabiso Hamilton Ndlovu cars. | south africa

The vehicles included three Porsches, a Jeep and a Lamborghini Urus SUV.

After the video went viral and he was blasted on social media, the businessman and CEO of Hamilton Holdings, an engineering solutions company, said he was sorry.

He posted an apology shortly afterwards, saying the video was in “poor taste.”

Ndlovu added, “In now way was the video meant to trivialise the current challenges my community is going through with the enduring pandemic.”

SARS is reportedly investigating Ndlovu’s potential tax debt. Ndlovu’s assets are now under curatorship until SARS recovers the potential debt.

His affected companies include Hamiltonn Holdings, Hamilton Projects, Mok Plus One, Abompetha and Feliham. Ndlovu’s main company, Hamiltonn Holdings, is based at Johannesburg’s Melrose Arch.

Hawks honing in Hamilton

The publicity his video generated first sparked interest from the Directorate for Priority Crime Investigation, better known as the Hawks.

It spurred an investigating Ndlovu immediately afterwards, according to a City Press report.  

 The publication claims the Hawks are investigating allegations that Ndlovu benefited from an Eastern Cape PPE contract.

“He’s been under investigation since he posted the video. It’s just a matter of time before we pounce on him. We’re also in talks with the Special Investigating Unit about seizing what we deem to be proceeds of crime. He’s one of the people thought to have benefited from irregular contracts that are being investigated by the Hawks,” a source in the security cluster told City Press.

SIU spokesperson Kaizer Kganyago reportedly declined to confirm or deny the reports, only saying: “The SIU is authorised by proclamation R23 of 2020 to investigate all PPE procurement irregularities.”

In June, Gauteng premier David Makhura dismissed allegations that emerged on social media claiming he had helped Ndlovu win PPE contracts with the provincial government.

None of the companies listed in the preservation order obtained by SARS features as a service provider in Gauteng’s Covid-19 Expenditure Disclosure Report.

Makhura described the allegations as a “Bell Pottinger-type of smear campaign” against him and the provincial government, reported the Daily Maverick.

City Press also reported that the Companies and Intellectual Property Registration Office (CIPRO) is in the process of deregistering Hamiltonn Holdings for failing to submit its tax returns.

Ndlovu has been mum on Twitter since posting his apology on 25 May.