Durban -
Shauwn and S’bu Mpisane can again conduct their businesses without the interference of a court-appointed curator now he has control over properties, cars, cash and policies valued at more than R70.5 million to satisfy an interim asset forfeiture order linked to fraud charges.
The wealthy couple are still fighting to overturn the preservation order that was granted in the Pietermaritzburg High Court in January and are awaiting judgment on this from Judge Sharmaine Balton.
But on Wednesday, they consented to an order that certain properties in their family trust be handed over as security to curator Trevor White.
The properties, owned by the Mkhimpi Family Trust, are listed as a flat in Sandringham Court, uMhlanga, valued at R1.1m, three properties at Zinkwazi Beach on the North Coast, valued collectively at R3.3m, two units at Golden Beach, La Mercy, valued at R2.5m and one at Elysium on the South Coast valued at R600 000.
Wednesday’s court application, which came before Judge Balton sitting in the Durban High Court, was a formality to join the trust as respondents in the asset forfeiture matter.
In his affidavit, White, a director of PwC, said the amount to be restrained was R70.5m.
But after seizing vehicles worth R22m and four properties, including the Mpisanes’ luxury La Lucia home valued at almost R12m, two others worth about R1.8m and household contents worth about R444 000, there was still a shortfall.
White said a meeting was held with Shauwn Mpisane and her legal representatives to discuss the restraint of further assets to enable her and her husband “to continue with business without daily oversight on my part” as the court order directed that he take control of their businesses and bank accounts.
The Mpisanes then agreed to hand over cash of R6.8m from retention money that was due to Zikhulise Cleaning Maintenance and Transport cc by the eThekwini Municipality, to facilitate the handing over of the trust properties, to cede insurance policies worth R2.3m, and to make payments of R2.6m in cash every month to make up any shortfall
The Mercury recently reported that some of the vehicles were handed back to the couple after they gave White R5.6m in exchange for them.
But White still has control over two Rolls-Royces, valued at about R10m.
The charges against Shauwn Mpisane relate to allegations that through Zikhulise she submitted false documentation to the Construction Industry Development Board to boost gradings and obtain tenders from the Department of Public Works.
This trial has been set down for January next year.
She is also standing trial on unrelated tax fraud charges.
This trial has been stalled because the prosecutor has been removed after allegations of unethical conduct and because Mpisane has made representations to the director of public prosecutions, arguing that the case should not continue.
The Mercury