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. The order prevents these parties from selling, disposing of, leasing, transferring, encumbering, donating, or dealing with the frozen assets in any manner while civil proceedings are underway.

In a statement, the SIU said: “The order interdicts MM Real Estate (Pty) Ltd, Humphrey Tshepo Moyo, Neo Shown 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.”

The three contracts under scrutiny, awarded in 2019, 2021, and 2022, carry a combined value of R89 million. The SIU said that Transnet had referred several suspicious contracts involving Transnet Property for further investigation.

“The SIU’s investigation has uncovered significant irregularities in the awarding of three contracts for property valuation services to Transnet,” the statement continued.

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“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 also said there were reasonable grounds to believe that Transnet may not have received full and fair value for the payments made under the disputed contracts.

Any evidence pointing to criminal conduct will be handed over to the National Prosecuting Authority (NPA) for further action.

“The SIU is empowered to institute a civil action in the High Court or a Special Tribunal to correct any wrongdoing uncovered during investigations caused by corruption, fraud, or maladministration,” the statement concluded.