Businessman’s widow and baby mamas fight it out over his properties
Deceased businessman Wandile Bozwana’s estate, worth more than R303-million, has pied his widow Tsholofelo Bozwana and her sister Harriet Masondo against his three baby mamas.
Sunday World can reveal that the administrators of the estate at Momentum have sold nearly all the properties le in Bozwana’s estate, some allegedly without the consent of the mothers of his children.
This was allegedly done with the consent of Tsholofelo and Masondo. E-mail exchanges dated March 16 2016 and February 23 2016, and seen by Sunday World, show that the administrators, Tsholofelo and Masondo sold a Meyersdal property bought under a trust in the name of one of his children.
The R900 000 property was sold to a Chinese couple without the permission of the children’s mothers.
The papers and e-mails show that when one of the mothers challenged the decision, she was told by Graham McPherson, the administrator of the estate at Momentum, that the property was sold with the consent of Tsholofelo to raise cash to sele the debts of Bozwana’s companies.
Momentum spokesperson Mandy Laemmle confirmed that the company was attending to the administration of the joint estate of Bozwana and Tsholofelo.
“The estate is being administered in terms of his last will and testament, and in compliance with the various legal, accounting and taxation frameworks,” said Laemmle.
She said the estate was not yet finalised as there were several matters before court, as well as business rescue or liquidation processes under way, which would likely affect the solvency of the estate.
“Neither the executor nor the trustees are aware of any properties registered in the names of the minor children of the late Mr Bozwana and have no authority to act on those assets,” reads the response.
According to the liquidation and distribution of the estate, seen by Sunday World, Bozwana’s sold assets included his R15-million matrimonial home in Mooikloof Heights Estate in Pretoria. Bozwana’s four farms in the North West and Northern Cape were sold for a combined fee of R5.1-million.
The same document shows that immovable properties worth R7.5-million and located in Kuruman, Pretoria and Mmabatho were also sold. The estate administrators, allegedly under the instruction of Tsholofelo, also sold Bozwana’s fleet of top-of-the range luxury cars, including a Ferrari FF, which was sold for R2.8-million, and other vehicles valued at R5,3-million.
These include a Maserati DB9, an Aston Martin and a bullet-proof Mercedes-Benz G63, as well as three Harley Davidson bikes.
The papers also show that the executors managed to raise more than R190-million from Bozwana’s companies in favour of the estate, including from Tshenolo Waste Management, which he co-owned with his business partner, Malusi Molewa.
The liquidation and distribution account documents show that Bozwana had more than five life cover policies with Momentum, Hollard and Liberty Life.
The estate managed to claim R74-million from these policies The biggest amount came from Momentum, where Bozwana had a life cover of R51-million, as well as other investment policies amounting to R3.3-million.
The three baby mamas, however, told Sunday World that they were told that their children would only benefit based on actuarial calculations, which le their children only receiving a R5 000 monthly allowances each and payment of annual school fees.
They said they only benefited from a total of R4-million each, which included stipend and school fees payments.
They also alleged that there was secrecy around the distribution of the estate, especially regarding the properties that were sold without their consent and knowledge.
Both Tsholofelo and Masondo were sent questions two weeks ago, but they had not responded by the time of going to print.
Bozwana was murdered in a hail of bullets while driving with his colleague, Mpho Baloyi, on the N1 highway in October 2015.