According to the SIU, its investigation uncovered what it described as a "direct and uninterrupted money trail."
The Special Investigating Unit (SIU) has frozen two multimillion‑rand properties of former PRASA Group CEO Tshepo Lucky Montana. Picture: SIU.
The Special Investigating Unit (SIU) has frozen two multimillion‑rand properties of former PRASA Group CEO Tshepo Lucky Montana, after tracing a direct money trail from the rail agency’s R5.6 billion Integrated Security Access Management System (ISAMS) contracts to the luxury homes in Hurlingham and Waterkloof.
The Special Tribunal granted a preservation order prohibiting Montana from selling, transferring, leasing, encumbering or otherwise dealing with the properties while the SIU pursues civil recovery proceedings.
Assets
The preserved assets comprise a Hurlingham, Johannesburg property purchased for R13.5 million and a Waterkloof, Pretoria property bought for R2.25 million. The Tribunal further directed the Registrar of Deeds to endorse the title deeds with caveats to prevent any unauthorised transactions.
The SIU said its investigation found that Montana’s lawful income could not explain the acquisitions.
“This order is an important step in safeguarding assets while we pursue recovery of financial losses suffered by the state,” the Unit said.
Investigations
Investigators traced payments from companies within the TMM group and Precise Trade and Invest directly to the purchase of Montana’s properties.
Evidence showed that funds flowed from PRASA’s contractor Siyangena Technologies through intermediaries before landing in attorneys’ trust accounts to secure the homes.
“The money trail is direct and uninterrupted,” the SIU noted, linking the properties to proceeds of the controversial ISAMS contracts, which ballooned to R5.6 billion by 2016.
Tribunal
Montana is expected to appear before the Tribunal on 11 August to argue why the interim order should not be made final, while the SIU has been instructed to institute main proceedings within 30 days.
The Unit emphasised its mandate under Proclamation R.153 of 2024 to investigate maladministration and corruption at PRASA, vowing to hold those responsible accountable and to refer any criminal evidence to the National Prosecuting Authority.
“We remain committed to protecting public resources from corruption,” the SIU said, underscoring its determination to recover losses and set aside unlawful contracts.
