The Special Investigating Unit (SIU) has secured an order for the preservation of two multimillion-rand properties linked to former Passenger Rail Agency of South Africa (PRASA) Group Chief Executive Officer, Lucky Montana.
The order relates to an investigation conducted by the SIU, which found alleged links to the purchase of the homes and proceeds derived from PRASA’s R5.6 billion Integrated Security Access Management System (ISAMS) contract awarded to Siyangena Technologies, a subsidiary of TMM Holdings.
“This contract involved the installation, supply, and maintenance of ISAMS at various train stations, part of a pilot project aimed at upgrading specific stations for the 2010 FIFA World Cup to reduce fare evasion and to cater for the anticipated volumes of commuters during the tournament.
“The equipment included public address systems, access gates, and electronic display boards to enhance the safety, accessibility and efficiency of the public rail commuter system, which PRASA is legally obligated to provide and maintain,” the SIU explained.
Owing to budget constraints, not all stations received upgrades but a decision was made to “proceed with the pilot project to extend to other remaining World Cup 2010 stations, with Siyangena as the contractor”.
“By April 2016, the total value of Siyangena’s ISAMS contracts had reached R5.632 [billion]. The SIU’s investigation found that Montana’s legitimate income could not account for the purchase of either property now subjected to a preservation order.
“Instead, bank records showed that the funds were directly connected to payments made by companies within the TMM group and Precise Trade and Invest 02 (Pty) Ltd. The Director of Precise Trade and Invest was also the lawyer representing the TMM group of companies,” the unit stated.
Luxury living
The two preserved properties are:
- A Hurlingham, Johannesburg, property purchased at R13.5 million, and
- A Waterkloof, Pretoria, property purchased at R2.25 million.
“The SIU investigation found that Precise Trade and Invest’s bank records show that on 18 June 2014, the company received two payments, including R1.850 million from ESS (Pty) Ltd, which is part of the TMM group of companies, and R4 million from TMM Holdings.
“Precise Trade and Invest then transferred R2.25 million to Waterkloof property transferring attorneys. The Waterkloof property was subsequently purchased and transferred into Montana’s name in 2014,” the SIU said.
Regarding the Johannesburg home, the corruption busting unit’s investigation found that the purchase was made through a “series of linked transactions involving Precise Trade and Invest, Midtownbrace (Pty) Ltd… and TMM Holdings”.
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, TMM Holdings transferred R12 million to Midtownbrace, whose account previously reflected a zero balance, and
- 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 welcomes the Tribunal order and regards the decision as an important step in safeguarding assets pending the finalisation of civil recovery proceedings. The SIU remains committed to recovering financial losses suffered by the State, holding those responsible accountable, and protecting public resources from corruption,” the SIU said. – SAnews.gov.za
