SIU freezes multimillion-rand properties linked to former PRASA CEO Tshepo Lucky Montana

Former PRASA CEO Tshepo Montana’s Hurlingham and Waterkloof properties have been frozen by the Special Tribunal after the SIU traced funds used to acquire the assets to transactions linked to PRASA’s controversial R5.6 billion ISAMS contract. Significant assets associated with former PRASA CEO Tshepo Lucky Montana have been frozen in a ruling as the SIU investigates a controversial R5.6 billion rail security contract. Two multimillion-rand properties connected to former Passenger Rail Agency of South Africa (PRASA) Group Chief Executive Officer (GCEO) TshepoLucky Montanahave been frozen after theSpecial Investigating Unit (SIU)obtained a preservation order from the Special Tribunal.

This is a component of a current inquiry into a contentious R5.6 billion rail security contract. The order, granted by the Special Tribunal, prohibits Montana from selling, transferring, leasing, encumbering or otherwise dealing with the properties pending the outcome of civil recovery proceedings instituted by the SIU. The assets include a luxury property in Hurlingham, Johannesburg, purchased for R13.5 million, and a property in Waterkloof, Pretoria, bought for R2.25 million.

The Tribunal also instructed the Registrar of Deeds to place caveats on the title deeds to prevent any unauthorised transactions involving the properties. According to the SIU, its investigation uncovered what it described as a “direct and uninterrupted money trail” linking the acquisition of the properties to proceeds allegedly connected to PRASA’s Integrated Security Access Management System (ISAMS) contract awarded to Siyangena Technologies, a subsidiary of TMM Holdings. The ISAMS project was initially introduced ahead of the2010 FIFA World Cupto upgrade selected train stations with electronic access gates, public address systems and digital display boards aimed at reducing fare evasion and improving commuter safety. Although budget constraints prevented the rollout to all stations, PRASA later expanded the project.