Hamilton Ndlovu, Instagram's flashiest millionaire, is now suspected of money laundering, and the SIU has him arrested...
Hamilton Ndlovu's financial and criminal risks during the first wave of COVID-19 have not paid off, to say the least. The so-called 'Insta-millionaire,' who became famous for parading a fleet of new luxury vehicles on his social media accounts, has been charged R42 million in money laundering.
WHERE DID HAMILTON NDLOVU COME FROM?
Following the release of the SIU report exposing PPE corruption, the revelations were made public. The paper names and shames a slew of unethical personalities, including Hamilton Ndlovu.
His story, though, distinguishes out from the rest: After-tax officials checked his Instagram feed, the showy businessman was notoriously stung by SARS. Ndlovu was spending his hard-earned money, but the Revenue Service didn't see a dime.
INSTA-MILLIONAIRE SARS RUMBLES
Indeed, the entire affair drew unwanted attention to Ndlovu's financial operations, and that's when everything came crumbling down. The discredited deal-maker was allegedly misusing procurement procedures, according to the SIU.
"The SIU inquiry discovered a labyrinth of interconnected entities, all claiming to be self-contained." In essence, though, the entities were all Mr Ndlovu's alter egos. It was discovered that he is tied to some other businesses, all of which were awarded contracts by the National HLS through dubious procurement processes."
"According to the evidence acquired, the contracts to the firms were awarded as a result of an abuse of the National HLS's emergency procurement procedures." Our evidence suggests that relatively little was paid for the PPE and/or that there was a significant mark-up."
MONEY LAUNDERING TRAIL INVOLVES HAMILTON NDLOVU
On Tuesday, however, we learnt that Hamilton Ndlovu had been siphoning money from PPE contracts into his bank account. The SIU report also named his partner's company, and it's been reported that Ndlovu pocketed R42 million as a result of the illicit conduct.
“All companies who were awarded PPE contracts made payments to Ndlovu’s account and these payments were diverted to Hamilton Holdings, as well as Feltham (his fiancé’s company). Money laundering is possible because R42 million from these entities was transferred to Ndlovu's account."