Porsche and Merc Among Frozen Assets Worth R20m Linked to Irregular Transnet Contracts

SIU and Transnet freeze R20 million in luxury assets amid fraud probe

R20 million worth of assets frozen as SIU and Transnet investigate irregular procurement and possible corruption in property deals.

Porsche and Merc among frozen assets worth R20m linked to irregular Transnet contracts

Special Investigating Unit spokesperson Kaizer Kganyago  says the action is part of an investigation into three allegedly irregular contracts for property valuation services with Transnet SOC Limited.

SIU secures freezing order in Transnet property contracts

The Special Tribunal has granted the SIU an order to freeze assets as part of the probe into irregular contracts at Transnet.

SIU Freezes R20.3 Million Assets Linked To Transnet Property Valuation Scandal

The Special Investigating Unit (SIU) has been granted a freezing order by the Special Tribunal to freeze assets valued at approximately R20.3 million. This forms part of the SIU’s investigation into three allegedly irregular property valuation contracts awarded by Transnet. The freezing order includes luxury vehicles and immovable property linked to MM Real Estate (Pty) Ltd, Humphrey Tshepo Moyo, Neo Shown Matlala, and any other involved party. …