Transnet executives’ properties placed under preservation order

10 August 2022 - 07:32 By TimesLIVE
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Their apartments in Rosebank and a house in Dainfern have been placed with a curator by the Special Tribunal.
Their apartments in Rosebank and a house in Dainfern have been placed with a curator by the Special Tribunal.
Image: Olivier Le Moal

Luxury properties in Johannesburg’s leafy Rosebank and Dainfern suburbs have been placed under a curator by the Special Tribunal as part of an investigation into deals at Transnet.

The Special Investigating Unit (SIU) and Transnet obtained a preservation order from the Special Tribunal on Monday to freeze five luxury properties in gated estates linked to Transnet executives and their spouses.

This is pending “final determination of civil proceedings for recovery of damages or losses and disgorgement of secret profits”.

The order prohibits Zakhele Lebelo and his wife Alletta Mokgoro Mabitsi and Phathutshedzo Brighton Mashamba and his wife Matlhodi Phillicia Mashamba from selling, leasing, donating or transferring the title of their apartments in Rosebank and a house in Dainfern.

Lebelo’s pension benefits have also been frozen.

He was employed as group executive at Transnet Property. He resigned in November 2018, pending a disciplinary inquiry.

Mashamba was suspended in May from his position as regional manager in the coastal region pending the SIU’s probe.

The SIU said the two Transnet executives allegedly received unlawful financial benefits worth about R10m from Transnet service providers.

Superfecta Trading has been a supplier of electrical and maintenance services to Transnet Property from 2016, while BBDM Bros Advertising Agency obtained a long-term lease of Transnet Property’s Carlton Skyrink Building in 2015.

“Between February 2016 and August 2018 Superfecta earned more than R64m in payments from Transnet as a result of its business with Transnet Property. Pursuant to its lease with Transnet, BBDM was paid tenant installation allowances totalling more than R73m from March 2015 to June 2018.

“The executives allegedly used unlawful financial benefits to acquire luxury properties on behalf of trusts administered by themselves and their spouses.”

SIU head Adv Andy Mothibi said: “The order is a continuation of the implementation of the SIU investigation outcomes and consequence management to recover assets and financial losses suffered by state institutions and/or to prevent further losses.”

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