A Special Tribunal has authorised the sale of a Ferrari SF90 Stradale linked to businessman Hangwani Morgan Maumela and the MHR Maumela Family Trust, as the Special Investigating Unit (SIU) continues its investigation into alleged corruption and maladministration at Tembisa Hospital.
The luxury hybrid supercar, which was purchased for more than R11.1 million in April 2022, is expected to be sold for no less than R9.5 million. The proceeds will be placed in an interest-bearing trust account while the broader legal proceedings continue.
The Ferrari is among a collection of luxury assets preserved during the SIU’s investigation into what the unit has described as the alleged “Maumela Syndicate”, a network it says was connected to irregular procurement at Tembisa Hospital.
The SIU’s investigation concerns allegations that about R2 billion was unlawfully and irregularly paid out through procurement processes at the hospital. The unit has been pursuing civil proceedings aimed at recovering money and assets allegedly linked to the wrongdoing.
Tribunal weighs cost of keeping Ferrari
The application to sell the Ferrari was brought by curator bonis Jacobus Gideon Louw Van Wyk, who argued that selling the vehicle was necessary to preserve its value and generate liquidity for the management of assets under his control.
The application was opposed by the Maumela respondents, who argued that the Ferrari was not rapidly depreciating and could potentially appreciate in value.
Two valuations reportedly placed the Ferrari’s value at R10.2 million and R10.165 million. There were also offers of R10 million and R10,999,995 to purchase the vehicle.
However, the cost of keeping the vehicle under preservation was also a factor.
The Ferrari was costing about R5,000 a month in storage and R8,333.33 a month for insurance. A battery replacement was estimated at R104,857, while warranty reinstatement and factory-related costs were estimated at about R408,000.
Special Tribunal president Judge Bernard Makgabo Ngoepe ultimately found sufficient grounds to approve the sale, despite there being no evidence that the vehicle was undergoing “rapid” depreciation.
The ruling allows the curator to sell the Ferrari for at least R9.5 million, with the proceeds protected in an interest-bearing account.
SIU says value of assets must be protected
The SIU has stressed that the sale does not amount to the abandonment of its case or the loss of an asset potentially recoverable by the state.
SIU spokesperson Selby Makgotho explained that the preservation process is intended to ensure that assets connected to the investigation remain available while the legal proceedings are being finalised.
“The purpose of preservation is to protect the value of assets pending the finalisation of legal proceedings,” Makgotho said.
The SIU has also previously explained that preserved assets remain under the control of the curator until the civil recovery proceedings are concluded. If the state’s case is ultimately successful, the assets can be forfeited to the state.
The unit has said its objective is not simply to seize luxury property, but to prevent assets allegedly acquired through unlawful means from being dissipated, hidden or losing value before the courts have made a final determination.
Ferrari is part of a much bigger asset trail
The Ferrari is only one piece of a much larger asset-preservation operation involving people and entities allegedly connected to Maumela.
In October 2025, the SIU obtained an order to preserve assets worth approximately R900 million allegedly connected to one of the syndicates it was investigating at Tembisa Hospital. On the first day of the operation, assets valued at approximately R133.5 million were secured, including luxury vehicles and other high-value property.
The preservation order covered luxury vehicles, jewellery, art, cash, electronic devices and financial interests, including bank accounts, shares, cryptocurrency and interests in companies.
The SIU said the action was necessary to prevent the dissipation of assets pending civil proceedings to recover money allegedly lost by the state.
The unit has also warned that it will continue pursuing assets hidden behind trusts and complicated corporate structures.
Allegations have not yet been finally determined
The proceedings involving the Ferrari form part of civil asset-preservation and recovery proceedings and should not be confused with a final criminal conviction.
The SIU’s allegations concerning the Maumela-linked network and Tembisa Hospital remain subject to legal proceedings and final determination by the courts.
The SIU is empowered under Proclamation 136 of 2023 to investigate allegations of corruption and maladministration involving the Gauteng Department of Health and Tembisa Hospital. Evidence of possible criminal conduct uncovered during its investigation can also be referred to the National Prosecuting Authority for further action.
For now, the Special Tribunal’s ruling means the Ferrari can be converted into cash, with the proceeds protected rather than allowing the vehicle to continue accumulating preservation, insurance and maintenance costs.
