The Special Investigating Unit (SIU) and Transnet have obtained a preservation order from the Special Tribunal to freeze five luxury properties, and pension benefits valued at about R1.8-million, linked to former Transnet executives and their spouses, pending the final determination of civil proceedings for recovery of damages or losses and disgorgement of secret profits.
The SIU investigation determined that the acquisition of the properties was allegedly funded by money received from service providers contracted by Transnet. Therefore, the luxury properties constitute proceeds of unlawful activities, hence the application for a preservation order pending the final determination of the review application.