US EditionSIU Freezes Properties and Luxury Cars in Eskom Corruption Case
The order bars Nkosi from selling or hiding 17 properties and seven luxury cars as investigators trace more than R73.6 million in alleged Eskom losses.
- The Special Investigating Unit secured a preservation order from the Special Tribunal to freeze 17 properties worth R76.5 million and seven luxury vehicles linked to businessman Siyabonga Moses Goodwill Nkosi.
- Investigators allege Eskom officials at Kusile and Matla power stations abused procurement systems between 2021 and 2023, causing the utility to lose more than R73.6 million.
- Officials manipulated procurement processes by splitting purchase orders below thresholds and uploading false part numbers, ensuring only colluding suppliers could bid for unnecessary equipment remaining in storage.
- The SIU linked Nkosi to the scheme in his personal capacity and as trustee of the Nkosi Royal Trust, Sibongukukhanya Trust, and Siyabonga Kankosi Trust, which channeled funds into assets.
- Judge Bernard Ngoepe granted the order, preventing asset dispersal across Gauteng, KwaZulu-Natal, and Mpumalanga, including Porsche models and two Lamborghini Urus vehicles.
13 Articles
13 Articles
SIU freezes properties and luxury cars in Eskom corruption case
The Special Investigating Unit (SIU) has obtained a preservation order from the Special Tribunal, freezing 17 properties and seven luxury vehicles linked to businessman Siyabonga Moses Goodwill Nkosi and his associated trusts. Judge Bernard Ngoepe granted the order, which prevents the sale, transfer or concealment of the assets while the investigation continues. The properties are valued at about R76.5 million. The SIU is investigating the matte…
SIU freezes R76.5 million in properties, luxury vehicles in Eskom corruption probe
By Thapelo MolefeThe Special Investigating Unit (SIU) has secured a preservation order from the Special Tribunal freezing 17 immovable properties valued at R76.5 million and seven luxury vehicles linked to businessman Siyabonga Nkosi and associated trusts in an Eskom-related corruption investigation.The order, granted by Judge BM Ngoepe, bars the sale, transfer, or concealment of the assets while the SIU pursues legal steps to set aside irregula…
SIU obtains R76.5m freeze order related to Eskom alleged corruption
The Special Investigating Unit (SIU) has scored a major victory in clawing back the money stolen at Eskom, securing a preservation order to freeze R76.5m worth of real estate and a fleet of luxury cars linked to businessman Siyabonga Moses Goodwill Nkosi.
SA businessman married to Instagram influencer to lose 17 houses, seven cars over alleged R76.5m fraud
The South African’s Special Investigation Unit (SIU) has obtained a preservation order from the Special Tribunal to freeze assets worth around R76.5 million linked to a popular businessman Siyabonga Moses Goodwill Nkosi and associated trusts, as part of an ongoing investigation into alleged corruption at Eskom, the country-owned power utility. Nkosi is married to Instagram […] The post SA businessman married to Instagram influencer to lose 17 ho…
SIU freezes R76.5 million assets in Eskom-linked corruption case: What it means and what to do if you’re affected
The Special Investigating Unit (SIU) has frozen assets worth R76.5 million linked to an Eskom-related corruption investigation, including 17 properties and seven luxury vehicles connected to businessman Siyabonga Moses Goodwill Nkosi and associated trusts. The preservation order, granted by the Special Tribunal, means the assets cannot be sold, transferred or hidden while investigations continue. The SIU is now moving to recover public funds and…
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