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A court-appointed curator has been given sweeping powers to take control of property linked to alleged extortion suspect Joe “Ferrari” Sibanyoni and his co-defendants, search for hidden assets and investigate their financial dealings in South Africa and abroad.
The provisional restraint order prevents the defendants from selling or disposing of their assets, worth about R99m, which include Sibanyoni’s properties at exclusive golf estates and others in Centurion and Pretoria, as well as luxury vehicles, including Ferraris, a Porsche, a Lexus, Mercedes-Benz vehicles and BMWs.
The respondents are Sibanyoni, his right-hand man Bafana Sindane, Mvimbi Masilela, Philemon Msiza and Rose Sibanyoni. The application was brought by the National Prosecuting Authority (NPA) before the Mpumalanga high court in Middelburg.
Sibanyoni is one of the country’s most prominent and feared taxi tycoons. He and Sindane are known for flaunting their wealth.
Under the order, Richard Masoanganye, a director and liquidator of Bombani Liquidators & Trustees CC, was appointed curator bonis to take possession of, and administer, property belonging to the defendants.
The order authorises him to locate assets wherever they may be situated, take them under his control and manage them.
Masoanganye’s powers include examining the defendants’ documents, computers and business records to uncover further property that may be linked to alleged criminal activities.
The court order states that Masoanganye may investigate the defendants’ accountants and auditors and examine records relating to their financial affairs and other entities in which they have interests.
He may also approach financial institutions and legal practitioners in South Africa and abroad to establish where assets or money may be held. His power also extend to taking back gifts that the defendants may have given to friends and loved ones.
Sowetan understands that the state is investigating several extortion cases linked to the group.
The NPA is also prosecuting them in a case before the Delmas magistrate’s court on allegations of extortion and money laundering.
It is alleged that they extorted R2.2m from businessman Thomas Ntuli over a period of time.
NPA spokesperson Kaizer Kganyago said: “On 28 September 2026, the AFU (Asset Forfeiture Unit) obtained an uncapped provisional restraint order from the Mpumalanga division of the high court, Middelburg, in terms of section 26 of the Prevention of Organised Crime Act 121 of 1998.
“The order emanates from ongoing investigations by SAPS into alleged criminal activities involving extortion and related offences linked to Sibanyoni and others.”
Last week, Sowetan reported that Sindane had received a R17m tax demand from the South African Revenue Service.
At the Madlanga commission, evidence has linked Sibanyoni and Sindane to the torching of 51 Putco buses in January 2024 and disruptions to bus operations before an alleged unsolicited offer was made to buy the company in the KwaMhlanga area.
Sibanyoni denied these allegations, saying the offer to buy was for the benefit of people of KwaMhlanga and not for his personal interest.
Further evidence revealed that police officers and other taxi bosses held meetings at Sibanyoni’s Centurion estate where plans to infiltrate the bus industry were cooked.
Sibanyoni admitted that he used the estate as his office.
While Sibanyoni has denied the allegations, Sindane is yet to appear before the commission.
The NPA said the court order was aimed at depriving people of the benefits of alleged criminal activity.
The defendants have not been convicted of the alleged offences. The restraint order is intended to preserve the assets while the legal process continues, said Kganyago.
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