Fin24

Investec wants Mandela to pay up

2012-08-12 13:18

Johannesburg - Nelson Mandela's grandson Zondwa Mandela has allegedly refused to pay Investec what he owes for a Mercedes Benz, the Sunday Independent reported.

He was apparently also allegedly refusing to hand the car to the bank's recovery department. Investec spokesperson Howard Tradonsky said the bank obtained a judgment and attachment order in October for the return of the 2008 Mercedes Benz S320 CDI worth R669 000.

"He may have paid a few installments in the beginning," he told the paper.

"We're not dealing with Mr Mandela any differently from other debtors who are unwilling or unable to pay."

Investigator Howard Blumenfeld, hired by Investec, had no address at which to serve the summons because no one seemed to know where Zondwa was.

A sheriff had visited the homes of former president Nelson Mandela, and ANC MP Winnie Madikizela-Mandela, in a vain effort to find the car, Blumenfeld was quoted as saying.

However, he was in telephonic contact with Zondwa.

"I talk to him [Zondwa] daily. I sent him an SMS this morning," Blumenfeld said.

"He keeps promising me money is coming in and he will pay the bank. But it never happens."

The Sunday Independent said efforts to contact Zondwa Mandela proved fruitless.

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Comments
  • iceman196 - 2012-08-12 13:45

    well what do you expect, freaking typical

  • Sedeshan Naidoo - 2012-08-12 14:03

    what a disgrace to his family's name!

  • ron.bilyard - 2012-08-12 14:07

    What a rubbish this man is.

  • keabetswe.leshumu - 2012-08-12 14:58

    well,mandela sells anything,now they do not say "investec wants zondwa to pay up".as if they do not know that everybody who has a root from rolihlahla mandela do not want to change her surname after marriage even their kids call themselves mandela.pssss

  • nick.garas - 2012-08-12 15:00

    What I don't understand is that with all the corruption and Fraud that is going on Investec still leant the money to him?? its unbelievable!! what's wrong with asking for cash upfront with all these dudes? after all we are the ones that end up paying for all the thefts!!-Hope the investec people responsible get fired as well!

  • haha.hehe.7564129 - 2012-08-12 16:49

    He must be waiting for someone to die in order to pay off his debt with his inheritance (my tax money).

  • Vince.York - 2012-08-12 16:58

    If service cannot be made at any addresses as listed officially on individuals, via Dept of Home Affairs, SARS, banking, properties, companies and others as investigating persons are able to ascertain, then courts duly attended to via legal process can instruct police to act accordingly and take him in from wherever he is, and additional charges laid if his official addresses are incorrect and or not updated within the specified time limitations.

  • kosmonooit - 2012-08-12 17:14

    Long Live the culture of Entitlement! Mercs for All!

  • steve.atherton.180 - 2012-08-12 19:31

    Must be Winnie's genes

      mark.barker.370 - 2012-08-13 07:25

      and Madiba's , don't delude yourself.

      martin.andersen.14473 - 2012-08-13 14:58

      Mark go easy on Madiba, he was instrumental in liberating SA from apartheid. Dont you think SA is a much better place than before ?

      mundu.olewega - 2012-08-13 17:03

      @Martin...uh....NO...it's much worse, which rock you been living under?

  • Thabo - 2012-08-12 20:56

    Just blacklist him!

      boltonbarry - 2012-08-12 21:14

      Thabo he will say it is racist to "blacklist" him :-)

  • beryl.knipe - 2012-08-12 21:57

    DISGRACEFUL! My poor sister missed one payment on her small second-hand car and "tracers" went to her place of work and TOOK IT AWAY. The bank SOLD it and now the bank STILL wants her to pay. What a sick, sad state of affairs this is. WHERE is the car this Mandela person is driving? If he still has it, why hasn't it been removed from him? Disgusting!

      greg.quinn.353 - 2012-08-12 22:21

      Uh what bank is this? It's not legal to repossess something and still expect someone to pay for it. Usually you have to be two payments behind in order for them to come and collect it. Even if they do collect, they give you a grace period to catch up payments then you can come and re-claim the vehicle.

  • danie.smit.587 - 2012-08-13 04:18

    You nare known by your friends and also your family although you cannot choose your family. Did , the ANC icon not counted the mass murderer of his own people Moamar Gadaffie as his friend, like Mugabethat? Is this fat crook , strip Aurora mine of all its assets , leaving thousand of black and white miners , and families without a income , family of the icon? Is he realy a icon?

  • kyle.buitendag - 2012-08-13 07:37

    piece of rubbish..........

  • michelle.h.koekemoer - 2012-08-13 07:49

    I think his sense of entitlement is hysterical.... you either pay for the car or give it back! Wonder what part of that he doesn't understand?

  • steveroodt - 2012-08-13 08:21

    His thought's are i was promised a house and a car in 1995 i now have them so why mus i pay i voted.

  • damonsb - 2012-08-13 08:24

    hey..i drive a R30 000 car.Nothing wrong there.He probably payed 3 installments worth 60 000 and ran.

  • carlos.deabreu.338 - 2012-08-13 08:44

    Serves Investec right, now they're trying to portray themselves as the victim, what happened to all your degrees, not so smart now?

  • George - 2012-08-13 08:52

    I think this Mandela should join the Olympic squad. I predict a new record for the 100 m. Excellent 'running-away' skills, natural talent, like most in the cANCerous society

  • jaco.vanheerden.12 - 2012-08-13 09:14

    What a Wanker !!!

  • rob.west.92123 - 2012-08-13 09:21

    You can`t tell me there is no tracking device in this car or Blumenfeld can`t trace Mandelas` cell phone. What sort of an investigator is Blumenfeld? He should change his name to Blumenidiot.

  • gary.chandler.50 - 2012-08-13 09:26

    Surely this vehicle has a tracking device in it,why don`t they track it from the tracking company?

      riotousr - 2012-08-13 09:43

      The tracking company might need the 'owner' of the vehicle to activate a search and recovery. They also might need a case numbver from the authority/concerned parents to activate a search and recovery. A mere claim that Investec financed the evhicle does not give them the right to order the tracking company to recover the vehicle.

      rob.west.92123 - 2012-08-13 10:00

      @riotousr, you`re a little naive.

      anthea.lagrange - 2012-08-13 15:46

      Well until the car is paid for it still technically belongs to the bank...

  • napolita.kio - 2012-08-13 10:14

    I can't help to wonder why Investec would not as well release the list of all their defaulters? Why and how did they select this one in particular?

      peter.boettger - 2012-08-15 10:41

      Because it will embarrass the A N C even more do-do

  • Michael - 2012-08-13 10:17

    but, but, but, aren't we supposed to get handouts? Isn't that how it works? which other ANC politician/family member has EVER been held accountable? we needn't go to jail, and we needn't declare our business itnerests honestly. and now I must give up my Merc because I can't pay? pfffft, don't be ridiculous, this is not how the world works.

  • phillys.winterbottom - 2012-08-13 10:28

    typical "untouchable" mentality!!!

  • thato.o.moja - 2012-08-13 11:42

    This guy still owes Aurora mine workers wages from April while he rides around in his Merc.

  • gerasimos.komnenus - 2012-08-13 11:43

    The myth of the Mandela name always finds a pigeon somewhere along the line. This time its Investec. LOL when will people ever learn?

  • gail.hayesbean - 2012-08-13 12:29

    Is this the same guy who is also in trouble because he married a second wife before his divorce was finalised from the first and now the second wife is suing him as well and has had a child? Wasn't she a Swazi or Sotho Princess? Track him through his cellphone but in order to do that due process has to be followed in a court of law and only then can the car be repossessed if it can be found. It has probably been sold for cash and broken up for spare parts so the Tracker is no longer working. There is more to this than just a car. Write it off Investec as you are throwing good money after bad. Banks do sometimes resort to placing this kind of info in Newspapers when they have failed to track down someone who owes them money but it is usually in a special section of the newspaper near the back under Classifieds. I just never understand why banks lend money to people who have nothing to attach merely because of their names when there are thousands out there who need a small amount of capital to start a business of their own who have no collateral or connections and are refused.

      heihachi.mishima.7731 - 2012-08-13 13:47

      nope thats the other one Mandla.He probably got financing based on the assets in the family trust which Investec manages.He is most likely a beneficiary which would mean he could qualify for an Investec private bank account, otherwise he would have needed to have assets of 5m and more or an income of 1m and above at the time he got the financing.with that said Investec has always had a history of dodgy dealings.

  • imam.madi.129 - 2012-08-13 12:58

    Amazing how South Africans hate each other. Everybody is boiling spewing racial stereotype because the name Mandela was used. I am sure 85% of this energy would have been conserved if investec said Zondwa must pay up. Of coz most people here would not have read the article and those who read it would have ignored it as a personal matter not worth being a national story. How many South Africans of all races struggle with their debts and we do not read about it? There is a wiese billionaire who owes lots of taxes and u dont hear a fart about that because people feel he is entitled not to pay. so to the haters in this site, Mandela feel entitled not to pay that makes him wrong, while wiese and other big tax dodgers like dave king are entitled to keep their loot and that's ok. Free urselves from mental slavery and see non payment as bad period, irrespective of who the hell u are. Melanin or no melanin, you are all entitled to my views.

  • richard.sloman.5 - 2012-08-13 13:31

    Stupid, sensationalist title as usual...

  • maseratifittipaldi - 2012-08-13 14:30

    I promised and I lied Now I'm qualified For my ticket to the Gravy Train.

  • martin.andersen.14473 - 2012-08-13 14:56

    First Zunaid Moti, now Zondwa. What happened to the credit vetting and suretyships ?

  • jacqui.daanevanrensburg - 2012-08-13 15:02

    I have that name and therefore I am above the law.

  • enlightened.bowman - 2012-08-13 15:10

    surprised anyone ? NO Rupesh, it has nothing to do with name or colour. How could anyone be so naive?

  • carol.paterson.923 - 2012-08-13 16:17

    Obviously an ANC through and through. He was hoping his name would save him. He must have a tracker in the vehicle, ask them to find the vehicle for you.

  • olivia.kgatla - 2012-08-13 17:23

    Did his finances really qualify him for this car? Or Investec gave him for being a Mandela?

  • justin.pretorius - 2012-08-13 17:25

    No surprise here

  • prakash.singh.169 - 2012-08-13 17:32

    THE FACT IS THAT THE SHERIFF OF THE COURT HAS NO BALLS TO RECOVER THE CAR. INVESTEC BANK HAS THE RESIDENTIAL ADDRESS AS WELL AS THE INSURANCE COMPANY, REMEMBER THE POLICY WILL ASK, WHERE WILL THE CAR BE PARKED OVERNIGHT.

  • aristar.aristary - 2012-08-13 17:41

    This is what is happening all over Africa. The terms of the HP contract is not explained in words of one syllable or less and so people are under the impression that because they have paid 1/10 of the car's price (not value) as a deposit they are entitled to drive that car for a period of time. The gobbledygook (legalese) which is printed in the contracts is very tiny and very difficult to understand by many people. There are thousands of repossessed cars sitting in warehouses which cannot be sold as the banks only want to recover what they have spent and that amount will ever be recovered at an auction. But yes nail Mandela's arse to the wall. He is not special and he never will be.

  • winifred.watson.9 - 2012-08-13 18:40

    credit is given far too easy today. If you happen to be politically connected the world is your oyster. Whats all this FICA AND RICA yet people are allowed to spend money on expensive cars whilst the bank knows very well, that these people cannot afford them. Are banks being pressured into giving credit even though they know it is a risk. Thats why people are so much in debt they are living far above their means, today its very expensive cars, clothes, jewellery all for swank and nothing more and government allows this to happen. People are drowning in debt,

  • ally.oh.7 - 2012-08-13 18:59

    Yippeee, another renegade Mandela besmirches the family name. Shame on you Zodwa. And ha ha ha, serves Investec right for thinking everyone who claims to have the Mandela name is honest.

  • marc.rule - 2012-08-14 07:49

    EASY find the car and take it then BLACK list him.

  • shameer.ramdayal - 2012-08-14 09:26

    Catch him in a roadblock (reg numbers)

  • sifiso.msimango - 2012-08-14 10:54

    this is rubbish, everytime u buy a property of that value, its a must to produce id, proof of address, payslip etc.. now investec says they can trace him and they go search him in his gogo&mkhulus place, nonsense. investec just wants to be associated with the mandelas, if so, then they must pay for the brand.

  • winifred.watson.9 - 2012-08-14 11:42

    Ha Ha Ha maybe he has asked Zuma to help him and he is just waiting for Zuma to apply his mind.

  • solomon.matli - 2012-08-14 13:20

    If the allegations r tru, He doesn't deserve the surname. Bills r bills irrespective of who Ur

  • philip.buys.1 - 2012-08-14 17:29

    wahahaha! This is so funny!

      nathan.mariemuthu - 2012-08-15 05:41

      Amazing story. I have read all the other comments from the gallery and i more concerned for these people. The bank takes a risk when it lends money. They then need to collect when there is no paymnet. How come we dont hear about all the other big fishes (non mandela's or anc people) that investec has lent to and have defaulted. They are implicated in the auction allinace scandal with real levitt and company. They were accused of trying to steal frpom a dead persons estate. How cheap is that. I feel extremely sorry for the majority of south africans. We are a society that fails to simply read the facts and understand the issues. We seem to " shoot from the hip"

  • denise.herbst.5 - 2012-08-15 07:22

    "We're not dealing with Mr Mandela any differently from other debtors who are unwilling or unable to pay" Well then why are they discussing this client with the newspapers? I dont see a list of the thousands of defaulters they probably have being published. I mean the guy is a chop and a criminal but seriously??

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