In a decisive move against alleged procurement corruption, the Special Investigating Unit (SIU), working with Transnet, has frozen over R20.3 million in luxury assets linked to irregular property valuation contracts awarded between 2019 and 2022. The action forms part of a widening probe into misconduct within the state-owned logistics giant.
The contracts in question—valued at R89 million—have triggered the seizure of high-end vehicles and upscale properties across Johannesburg and Vanderbijlpark. A preservation order granted by the Special Tribunal targets assets belonging to MM Real Estate (Pty) Ltd, Humphrey Tshepo Moyo, Neo Shown Matlala, and other implicated individuals.
Among the frozen assets are a Porsche 718 Boxster, a Mercedes-Benz V250d, and residential properties located in Bryanston, Fourways, Broadacres, and Vanderbijlpark. The order strictly prohibits the sale or transfer of these assets while civil proceedings unfold.
The investigation, prompted by a whistleblower report and an internal referral from Transnet, revealed non-compliance with supply chain regulations and signs of undue influence during the contract award process. It appears Transnet may have significantly overpaid, failing to receive fair market value for the contracted services.
This intervention is part of a broader clean-up effort authorized under multiple proclamations dating back to 2018. The SIU is tasked not only with recovering public funds but also referring criminal findings to the National Prosecuting Authority for further action.
With corruption in state-owned enterprises under intense scrutiny, this latest development signals a firm stance from authorities: luxury lifestyles built on public funds will not go unchecked. More revelations and possible charges are expected as the investigation continues.
