South African business mogul Edwin Sodi is at risk of losing 90 of his vehicles after a giant insurance company applied for a court order to attach a fleet of cars that belong to a company he owns.
The latest developments come as Sodi’s business empire has been crumbling around him over the last few weeks, with reports that one of his mega-mansions in Morningside was put up for sale for an astounding R75-million.
His cars, properties, and company were also sold at an auction last week. More of his commercial properties are set to go on sale this month at an auction.
According to Sunday World, Sodi’s woes are far from over, with revelations that Hollard Insurance, which acted as a guarantor for Sodi’s company to receive the millions from the Development Bank of South Africa (DBSA) as advance payment to upgrade and build additional accommodation for a correctional centre in Parys, Free State, has applied for a court order in the Joburg high court to sell almost 100 vehicles owned by Sodi’s NJR Projects (NJR).
Court papers seen by Sunday World revealed that NJR was awarded a R282-million tender by the department of public works to upgrade and build additional accommodation at a correctional centre in Parys, Free State.
For this, NJR got over R39-million in advance payments from DBSA, which they then failed to repay. This resulted in DBSA recouping the loan from Hollard Insurance.
Some of the cars up for auction include five Bell TLBs, a BMW X3, two Chevrolet Utility vehicles, a Ford Fiesta, 41 Ford Rangers, 10 Hino trucks, 15 Mazda CX3s, 4 Mercedes Benz vehicles, 6 Nissan NP200s, three tankers, three Toyota bakkies and eight VW vehicles.
Meanwhile, amidst his legal woes, Sodi has reportedly split from his influencer girlfriend, Karen Zulu, after her deemed her unsupportive during his hour of need.
“Edwin is going through the most. He asked her on a couple of occasions to stop posting on her social media accounts… This is because, as his partner, all eyes are on her as much as they are on him,” said a source that spoke to Sunday World.
But Karen, being the influencer/celeb that she is, continued posting their high life. Basically exposing him and defying him,” the source said.
As they parted ways, he also repossessed the designer bags she regularly shows off to her thousands of followers on social media.
Sodi and Zulu were reportedly previously engaged and had set a wedding date a year ago. But it was put on hold after the invitation and wedding date were leaked on social media.
“He took back some things from her, including the bags she normally flaunts on social media, which he bought her. The problem with Karen is that she could not read the room.
“Edwin is basically on a hot stove, but she still demanded things from him. And that came across as being very unsupportive,” the source added.
