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) Tshepo Lucky Montana have been frozen after the Special 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.
