The Special Investigating Unit (SIU) has secured a preservation order from the Special Tribunal to freeze two high-value residential properties owned by former Passenger Rail Agency of South Africa (PRASA) Group CEO Tshepo Lucky Montana, as part of its investigation into alleged corruption surrounding a R5.6 billion security contract awarded to Siyangena Technologies.

Details Of The Asset Freeze And Investigation

According to the SIU, the frozen properties consist of a home in Hurlingham, Johannesburg purchased for R13.5 million, and another in Waterkloof, Pretoria acquired for R2.25 million. The Tribunal’s preservation order prohibits Montana from selling, leasing, transferring or encumbering either property while civil recovery proceedings are underway.

The SIU reported that its investigation uncovered a direct money trail connecting the funds used to acquire the properties to proceeds allegedly stemming from the controversial PRASA Integrated Security Access Management System (ISAMS) contract with Siyangena Technologies. The ISAMS project, introduced ahead of the 2010 FIFA World Cup, aimed to reduce fare evasion and improve commuter safety through the installation of electronic access gates and other upgrades at selected train stations.

Contract Cost Escalation And Legal Proceedings

Officials confirmed that the value of the contracts awarded to Siyangena Technologies and subsequent extensions soared from nearly R2 billion in 2011 to over R5.6 billion by April 2016. The SIU found that Montana’s legitimate income could not account for the cash flows used to purchase both residences now subject to the freeze.

Investigators traced the acquisition funds through companies tied to TMM Group and Precise Trade and Invest 02 (Pty) Ltd, the latter of which shares a director with TMM Group’s legal representative. The SIU declared, “This order is an important step in safeguarding assets while we pursue recovery of financial losses suffered by the state.” The Tribunal has ordered Montana and others to appear on 11 August 2026 to motivate why the interim order should not be made final.

Broader SIU Probe Into PRASA Management

This action forms part of the wider SIU investigation into maladministration, corruption, and unlawful conduct within PRASA, mandated under Proclamation R.153 of 2024 covering events from January 2010 to February 2024. The investigation has highlighted escalating project costs and alleged mismanagement under PRASA’s previous leadership, with ongoing civil processes aimed at recouping state resources and holding those implicated to account.

The Tribunal is expected to review the matter further in August 2026 as the SIU continues to advance civil and possible criminal proceedings linked to the ISAMS project and broader alleged wrongdoing at PRASA.