The Special Investigating Unit (SIU) has announced that it has secured a preservation order from the Special Tribunal ordering the preservation of two multimillion-rand properties linked to former Passenger Rail Agency of South Africa (PRASA) Group Chief Executive Officer Tshepo Lucky Montana.
The order prohibits Montana from selling, transferring, leasing, encumbering or otherwise dealing with the properties pending the final determination of SIU’s civil proceedings.
The preserved assets comprise:
- a Hurlingham, Johannesburg property purchased at R13.5 million; and
- a Waterkloof, Pretoria property purchased at R2.25 million.
The Tribunal further directed the Registrar of Deeds to endorse the title deeds with caveats to prevent any unauthorised transactions involving the properties.
The preservation order follows an SIU investigation which uncovered a direct and uninterrupted money trail linking the acquisition of both properties to proceeds allegedly derived from association with PRASA’s R5.6 billion Integrated Security Access Management System (ISAMS) contract awarded to Siyangena Technologies (Pty) Ltd, a subsidiary of TMM Holdings.
Hurlingham property
The SIU investigation also established that the Hurlingham property was acquired through a series of linked transactions involving Precise Trade and Invest, Midtownbrace (Pty) Ltd (a company incorporated in Botswana) and TMM Holdings.
The SIU said evidence shows that: on 23 March 2015, Precise Trade and Invest transferred R2 million to the transferring attorneys’ trust account; on 23 April 2015, Siyangena transferred R13 million to TMM Holdings after receiving substantial contract payments from PRASA; on the same day.
Midtownbrace then transferred R11.5 million to the transferring attorneys, enabling the purchase of the Hurlingham property, which was registered in Montana’s name in July 2015 for R13.5 million.
The house that was on the property was demolished by Montana.
The Tribunal has since directed the respondents to appear on 11 August 2026 to show why the interim preservation order should not be made final.
The Tribunal also ordered that the main proceedings against Montana must be instituted within 30 days of the order.
The SIU is investigating PRASA in terms of Proclamation R.153 of 2024, which authorises investigations into allegations of maladministration and corruption relating to PRASA’s affairs between 1 January 2010 and 16 February 2024.
The SIU said it welcomes the Tribunal order and regards the decision as an important step in safeguarding assets pending the finalisation of civil recovery proceedings.
The SIU said that it remains committed to recovering financial losses suffered by the state and holding those responsible accountable.
