News 30.10.2017 11:51 am

Sisulu grandson owes bank millions for Porsche, Range Rover and Sandton mansion

Zwelethu Sisulu: Twitter

Zwelethu Sisulu: Twitter

Zwelethu Sisulu could lose his property and two luxury cars.

Late journalist Zwelakhe Sisulu’s son, Zwelethu Sisulu, is facing a legal dispute after failing to pay his monthly installments for his expensive wheels and house.

Zwelethu is well-known for driving flashy cars, a Range Rover and Porsche that are worth millions, while living in a mansion in Sandton that’s worth R4.7 million.

In December 2013, Zwelethu bought a Porsche Boxster S for R1.1 million, and it was followed by a Range Rover Sport 5.0 worth R1.2 million.

He was expected to pay a monthly installment of R20 664 towards the Range Rover and R19 620 for the Porsche, but he only managed to pay just more than R538 000 for the Range Rover and almost R454 000 for his Porsche within the last three years, making the payments inconsistent.

A local banker filed an application at the South Gauteng High Court in Johannesburg asking for a judgment to be issued against the Sisulu grandson, claiming he was a bad customer. This would effectively require the court to issue an order authorising the sheriff to repossess and sell the cars to pay for Sisulu’s debts.

Zwelethu confirmed the reports that indeed he was behind his payments. “I’m currently paying an amount of R35 000 towards the bond of the house,” he told Sunday World.

He added the bank also wanted to repossess his R4.7 million mansion located in Sandown, Sandton.

“It’s been five years since my father passed on, but they have not wound up the estate, and nobody has received their inheritance. My income has stopped, but my obligations have not stopped. So what money will I use to pay for the properties?” he said, referring to an inheritance he is set to receive from his father’s estate.

READ MORE:

Zahara fails to pay monthly instalments for Audi A5 – report

For more news your way, follow The Citizen on Facebook and Twitter.

 

today in print