Former Passenger Rail Agency of South Africa (PRASA) Group Chief Executive Officer Lucky Montana has rejected claims by the Special Investigating Unit (SIU) that it has secured a preservation order over two of his luxury properties, insisting the legal process is only at its preliminary stage and that he will oppose the application before the Special Tribunal.
Montana responded late on Sunday through a lengthy statement posted on his X account, hours after the SIU announced it had obtained what it described as a preservation order over two properties worth a combined R15.75 million.
The SIU said the Special Tribunal ordered the preservation of a Hurlingham property in Johannesburg, purchased for R13.5 million, and a Waterkloof property in Pretoria, purchased for R2.25 million.
According to the SIU, the order prohibits Montana from selling, transferring, leasing, encumbering or otherwise dealing with the properties while civil proceedings continue. The Tribunal also directed the Registrar of Deeds to place caveats on the title deeds to prevent any unauthorised transactions.
The SIU said its investigation uncovered what it described as a direct and uninterrupted money trail linking the purchase of the two properties to proceeds allegedly associated with PRASA’s R5.6 billion Integrated Security Access Management System (ISAMS) contracts awarded to Siyangena Technologies, a subsidiary of TMM Holdings.
The Unit said the contracts formed part of a programme to install electronic access control systems, public address systems and display boards at railway stations, initially for the 2010 FIFA World Cup before being extended to additional stations.
The SIU said four contracts and contract extensions awarded between 2011 and 2016 increased the value of the ISAMS project to more than R5.63 billion.
Investigators allege Montana’s legitimate income could not explain the acquisition of the two properties.
According to the SIU, bank records show payments flowing through companies within the TMM group and Precise Trade and Invest 02 (Pty) Ltd before funds were transferred to attorneys handling the property purchases.
The SIU alleges that in June 2014 Precise Trade and Invest received R1.85 million from ESS (Pty) Ltd, part of the TMM group, and R4 million from TMM Holdings before transferring R2.25 million to conveyancing attorneys, leading to the purchase of the Waterkloof property.
Regarding the Hurlingham property, the SIU alleges that Precise Trade and Invest transferred R2 million to conveyancing attorneys in March 2015. It further alleges that after Siyangena transferred R13 million to TMM Holdings in April 2015, TMM transferred R12 million to Botswana-registered company Midtownbrace, which then transferred R11.5 million to the attorneys to facilitate the R13.5 million property purchase registered in Montana’s name in July 2015.
The SIU said the house that previously stood on the Hurlingham property was later demolished by Montana.
The matter is scheduled to return to the Special Tribunal on 11 August 2026, when respondents are expected to show cause why the interim preservation order should not be made final. The Tribunal also ordered that the SIU institute its main civil proceedings within 30 days.
However, Montana strongly disputes the SIU’s description of the court process.
He said the SIU had not obtained a final preservation order but rather a provisional order initiating legal proceedings.
Montana said he was served with the application around 9 July 2026 and filed a notice of intention to oppose last week.
He said he is required to file his opposing affidavit by 19 August 2026 in accordance with the Uniform Rules of Court.
“The SIU obtained a provisional order to initiate legal action against me, but has not obtained a Preservation Order,” Montana wrote.
He accused the SIU of prematurely celebrating a legal victory and alleged that the Unit rushed to the media before considering that he had already entered opposition to the application.
Montana also claimed the SIU deliberately chose to release its statement on a Sunday “hoping this will have the biggest impact and present me as a criminal.”
Beyond the legal dispute, Montana repeated longstanding allegations that various state institutions have targeted him over several years.
He claimed he became the subject of investigations after refusing to accommodate alleged demands by government ministers and senior ANC leaders relating to the multibillion rand Gibela train contract.
Montana also referred to previous investigations involving the Directorate for Priority Crime Investigation, commonly known as the Hawks, and the South African Revenue Service, alleging they had unsuccessfully pursued cases against him.
He further alleged that he recently received information suggesting attempts were being made to open a theft case against him involving PRASA documents.
The SIU is investigating PRASA under Proclamation R153 of 2024, which authorises investigations into alleged maladministration and corruption relating to the rail agency’s affairs between 1 January 2010 and 16 February 2024.
The SIU said any evidence of criminal conduct uncovered during its investigation would be referred to the National Prosecuting Authority for consideration, while its civil proceedings seek to recover financial losses suffered by the State and preserve assets pending the outcome of litigation.
Montana has indicated that he will continue opposing the SIU application before the Special Tribunal, where the matter is due to proceed in August.
