‘Tycoon’ faces wrath of repo men

WesBank wants cars impounded over non-payment

Self-proclaimed tycoon Yamkela Kiviet is allegedly running away from repo men who want to repossess two luxury beemers he bought through WesBank loans.

The repo men have obtained a court order to impound Kiviet’s road monsters after he ignored repeated pleas to swallow his pride and surrender the vehicles as he was struggling to cope with his monthly instalments.

The shocking details were revealed by a frustrated bank employee who did not want to be named for fear of victimisation.

Narrating the story to Sunday World, the employee said Kiviet, who has been gloating about his wealth on radio and TV, bought a BMW X6 for over R1-million and a BMW 5-series for R1.1-million in 2017.

The employee said Kiviet was expected to pay over R10 000 in monthly instalments for his BMW X6.

But the self-styled philanthropist defaulted and was, according to a court order seen by Sunday World, over R956 000 in arrears as of the first week of April.

The court order also shows that the last amount Kiviet paid was R10 000 on July 13 2018, the same year he crowed over his wealth on one of Gauteng’s talk radio stations.

The employee also said Kiviet was struggling to pay over R5 500 in monthly instalments for his BMW 520i A/T M-Sport F10.

He said the last payment Kiviet made for this beemer was R5 500 on July 13 last year.

“He is over R58 000 in arrears and the balance on this vehicle’s account is over R298 136, which he is failing to settle,” said the employee.

The employee said the repo men, who were tired of his tardiness, descended on his o§ces in Ferndale, Joburg, recently in a bid to impound his vehicles but failed to do so because the security guards blocked them.

“His offices are in a complex, there is no free access, you need to get permission from the security guards who are manning the entrance before you go in,” explained the employee. “So, when the security guards phoned him and asked him if they could allow our guys to go into his office, he told them not to do so. So they had no choice but to leave without impounding the vehicles. But we are on his tail, he is not going to evade us forever.”

Kiviet admitted that he had failed to keep up with his monthly instalments due to financial challenges, but refuted claims that he was refusing to surrender the two vehicles.

He said the two vehicles were hijacked in two separate incidents and he opened cases of hijacking with the police.

He said the X6, which was driven by his associate, was hijacked in Mpumalanga, while the 5-series was hijacked in Soweto, adding that the insurance company had refused settle the vehicles because he was behind in his monthly insurance premiums.


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