SIU freezes more than R20m worth of assets linked to irregular Transnet contracts

JOHANNESBURG - The Special Investigating Unit (SIU) has frozen more than R20 million worth of assets linked to irregular Transnet contracts.

This included luxury vehicles and high-value properties.

The preservation order by the SIU and Transnet is part of an ongoing investigation into three allegedly irregular contracts for property valuation services with the port and rail company.

Transnet had referred various suspicious contracts involving Transnet property to the SIU for further investigation.

The contracts, awarded in 2019, 2021 and 2022, have a combined value of R89 million.

Working closely with Transnet, the SIU’s investigation revealed serious flaws in the procurement processes, raising concerns about compliance with supply chain management regulations and the possibility of undue influence in the awarding of these contracts.

The SIU and Transnet believe that Transnet may not have received full and fair value for the payments made under the disputed contracts.

Restrained items include a Porsche 718 Boxster, a Porsche Macan S, a Mercedes C200, a VW Amarok, properties in Bryanston, Fourways, Broadacres and four office units in Vanderbijlpark.

The order interdicts MM Real Estate (PTY) LTD, Humphrey Tshepo Moyo, Neo Shawn Matlala and any other party from selling, disposing, leasing, transferring, encumbering (including by granting rights of retention), transferring, donating, or dealing in any manner whatsoever to the frozen properties, pending the finalisation of civil proceedings.