JOHANNEBSURG - Transnet and the Special Investigating Unit (SIU) have welcomed a Special Tribunal provisional order freezing millions of rands worth of assets belonging to two former Transnet executives, Thabo Lebelo and Phatutshedzo Mashamba, and their families.
The Special Tribunal handed down the order on Monday and it relates to claims that Lebelo and Mashamba scored kickbacks from suppliers and tenants of Transnet property in exchange for helping push lucrative contracts their way.
The Special Investigating Unit (SIU) and Transnet SOC Limited (Transnet) have obtained a preservation order from the Special Tribunal to freeze five luxury properties in gated estates, and pension benefits valued at approximately R1.8 million linked to Transnet executives pic.twitter.com/EWIv16GjGw
Special Investigating Unit (SIU) (@RSASIU) August 9, 2022
The order is provisional for now, though, and still must be made final.
A joint statement from the SIU and Transnet released on Tuesday said investigations had revealed that Lebelo and Mashamba scored approximately R10 million of unlawful financial benefits from their dodgy dealings.
Further, they’ve revealed that the properties in question, which include five luxury properties in gated estates, were allegedly funded by money from Transnet service providers.
Therefore, the SIU’s position is that they constitute the proceeds of unlawful activities.
Both Transnet and the SIU have welcomed the latest developments in the matter.
The parastatal said that it would continue to work with the authorities to bring to book those guilty of wrongdoing.
