Home World South Africa News Frank Buyanga loses R600 million asserts in SARS raid {Watch}

Frank Buyanga loses R600 million asserts in SARS raid {Watch}

Frank Buyanga

South Africa based Zimbabwean dodgy businessman Frank Buyanga said he lost over R600 million worth of assets after the South African Revenue Authority (SARS) pounced on his Sandton House.

The businessman recorded his confrontation with the SARS officials while blurring the face of her girlfriend who was at the house.

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Buyanga filed at the High Court in an attempt to have the court mediate his debacle with SARS. He says SARS has denied meeting his lawyers to discuss the seizure of Kruger Coins which he claims to be worth R600 million which people buy for a store of value.

Frank Buyanga with Cyril Ramaphosa, his Kruger coins were seized by SARS
Frank Buyanga lanked by President Ramaphosa and Former DRC President Kabila.

“SARS unlawfully, without justification and without my permission and against my protests seized from me and dispossessed me of gold (Kruger) coins that I had with me at the time… Conservatively estimated, the gold coins that were stolen from my possession are valued at over 600 million Rand,” he wrote in his founding affidavit.

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In the video, Buyanga is heard arguing with SARS officials and at some point threatened for his advances towards another official.

Watch the video of the raid of Buyanga’s house below:

“They have come here to bully me, they have a camera and they are putting themselves into this…,” Buyanga complained, as his lawyer listened on the phone.

“I have a constitutional right to understand why you are here. You have to act in due process,” he argued.

The persistent SARS officials were equipped with a warrant and a court order to search and seize assets of interest from Buyanga’s house.

“You can’t say we can’t wait, what is it all about?” Buyanga said as the officials refused to be delayed.

The argument ended with SARS completing their task of the day much to Buyanga’s loss.

Buyanga visits President Mnangagwa at his Munhumutapa offices in a Bugatti
Buyanga visits President Mnangagwa at his Munhumutapa offices in a Bugatti

It wasn’t for the first time that the Hamilton boss has had scuffles with the taxman. In 2010 SARS impounded his Rolls Royce Ghost after he failed to prove that the vehicle was not stolen. He bought it back after it was auctioned in 2018.

Buyanga rose to prominence in the 2000s as he seized properties of clients who failed to settle his Hamilton Finance microloans. He also used strict kids to chase away the owners from their properties.-Savannah

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