Sam Holdings assets to go under hammer as Chabalala's empire falls

Sam Holdings assets to go under hammer as Chabalala's empire falls

- Infamous businessman Sam 'Mshengu' Chabalala remains nowhere to be found

- However, Mshengu's empire is being dismantled and auctioned off to the highest bidder this week

- It is believed that the multimillionaire has fled back to Zimbabwe in a bid to escape prosecution

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Sam 'Mshengu' Chabalala is believed to have fled South Africa back to Zimbabwe in an attempt to avoid numerous charges.

The multimillionaire is facing a long list of charges including corruption, illegal possession of a firearm and ammunition, illegal entry, remaining within SA and providing fake information to be granted entry in the first place.

The Sam Holdings boss disappeared in March after failing to appear in court for one of the cases against him.

Chabalala remains on the run. Image: Instagram/ Sam Holdings
Source: UGC

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Now, SowetanLIVE reports that Chabalala's empire is being auctioned off to the highest bidder this week with Brig Hangwani Mulaudzi confirming to the publication that Mshengu's real identity will also be 'flagged by Interpol'.

Mulaudzi said that Chabalala's true identity, once confirmed, will be circulated throughout Zimbabwe and beyond as authorities continue their manhunt.

In addition to Scania trucks branded Sam Holdings and two bakkies, properties in Bethal, Mpumalanga will also be auctioned off. The publication revealed that Chabalala had owed over R60 000 in rates and taxes on the properties.

In addition to the auction, Sam Holdings is in the process of deregistration from the register of companies.

The company is believed to have ceased operations in April despite Lerato Legodi, Chabalala's wife, promising that this would be temporary. Employees claim they never received payment for outstanding salaries with Legodi ignoring calls to clarify the situation.

Earlier, reported that Chabalala had been propelled into the spotlight after taking a huge fleet of luxury vehicles to the Durban July.

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The 72-car fleet had made waves on social media, prompting curiosity over who this 'Sam' was and how he had managed to acquire such immense wealth under the radar.

Eventually, it would emerge that he hadn't grown up on a farm in Limpopo, working his way from the bottom to owning his own trucking company.

The Directorate for Priority Crime Investigation has called on South Africans to help in the search for Sam 'Mshengu' Chabalala. In a statement issued on the cntinued hunt for the Mpumalanga businessman, the SAPS commented:

"Chabalala, who goes by the name Mshengu, is out on bail of R200 000 and R500 000 respectively for two cases. He failed to appear for his two cases on 6 March 2020 at the Witbank Magistrate's Court and last week Friday in the Middelburg Magistrate's Court. The combined amount of the bail posted for the two separate cases has since been forfeited to the state."

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Source: Briefly News

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