Durban - It’s going to be a bleak Christmas for Durban power couple, Shauwn and S’bu Mpisane after two orders to “preserve” and seize their personal and business assets were granted in court.
It is believed that several of their luxury cars were seized on Wednesday by curators authorised by the court to attach their movable and immovable assets immediately.
Their assets include at least 128 vehicles as well as 10 commercial and residential properties of substantial worth.
Their current fleet of luxury cars includes an Aston Martin Rapide, a Dodge Ram, Mercedes X222, VW Sedan, BMW 1 Series, BMW 4 Series, BMW 7 Series, a Ferrari 612 Scaglietti and a McLaren MP4-12C. Their assets also include homes and properties in La Lucia, as well as farms and business properties in Pietermaritzburg.
A source with intimate knowledge of their financial affairs said that when curators visited their La Lucia home last week, most of their other assets had been removed already.
The orders were granted in the North Gauteng and Durban High Court on November 11 and 24 respectively by Deputy Judge President Audrey Ledwaba and Judge Justice Vahed.
Sars is once again probing the couple’s financial affairs under the Tax Administration Act for alleged tax evasion in the 2014/15 financial year. A preservation order is an order of the court to prevent a taxpayer from disposing or removing assets, in most cases, pending an investigation.
The investigation is linked to the Mpisanes’ five companies and their Sbusha Trust.
The preservation order was brought against Zikhulise Cleaning Maintenance and Transport CC, Zikhulise Auto Restorers CC, Inyanga Trading 559 (Pty) Ltd, Royal Eagles Football Club and Zikhulise Auto Recoveries (Pty) Ltd as well as Madoda Mbeje, a trustee of the Sbusha Trust.
The Mpisanes are yet to oppose the order.
They are no strangers to tax controversy as this is not the first time they have had their assets preserved and seized.
In 2013, a preservation order was also granted against Shauwn Mpisane for alleged tax fraud linked to three of their companies between 2006-2012 pending an investigation.
However, Mpisane was cleared of the charges in January 2014.
Despite several attempts to contact the couple, they could not be reached for comment.
Sars did not respond to queries at the time of going to press.