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.
The Special Investigating Unit (SIU) has secured a preservation order from the Special Tribunal, freezing two multimillion-rand properties linked to former Passenger Rail Agency of South Africa (PRASA) Group Chief Executive Officer (GCEO) Tshepo Lucky Montana. This forms part of an ongoing investigation into a controversial 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.
