SIU Secures Preservation Order Over Properties Linked to Lucky Montana

The SIU said its investigation found that Montana's legitimate income could not account for the acquisition of the two properties.

The Special Investigating Unit (SIU) has obtained a preservation order over two luxury properties linked to former Passenger Rail Agency of South Africa (PRASA) Group Chief Executive Officer Lucky Montana as part of its ongoing investigation into alleged corruption involving the agency's multibillion-rand Integrated Security Access Management System (ISAMS) project.

According to the SIU, the investigation uncovered alleged connections between the purchase of the properties and proceeds from PRASA's R5.6 billion ISAMS contract awarded to Siyangena Technologies, a subsidiary of TMM Holdings.

The ISAMS project was introduced to improve security and commuter management at selected railway stations ahead of the 2010 FIFA World Cup through the installation of access gates, public address systems and electronic display boards. Although budget constraints prevented all stations from being upgraded, the project was later expanded with Siyangena remaining the contractor.

Investigation traces money to property purchases

The SIU said its investigation found that Montana's legitimate income could not account for the acquisition of the two properties. Instead, financial records allegedly linked the purchases to payments made by companies within the TMM group and Precise Trade and Invest 02 (Pty) Ltd.

The first property, located in Waterkloof, Pretoria, was purchased for R2.25 million. Investigators said Precise Trade and Invest received R1.85 million from ESS (Pty) Ltd, a TMM group company, and R4 million from TMM Holdings on 18 June 2014. The company later transferred R2.25 million to the attorneys handling the property transfer, after which the property was registered in Montana's name.

The second property, situated in Hurlingham, Johannesburg, was purchased for R13.5 million through what the SIU described as a series of interconnected financial transactions involving Precise Trade and Invest, Midtownbrace (Pty) Ltd and TMM Holdings. Investigators allege that R13 million moved from Siyangena to TMM Holdings before R12 million was transferred to Midtownbrace, which then paid R11.5 million to the conveyancing attorneys, enabling the purchase. The property was registered in Montana's name in July 2015, and the existing house was later demolished.

Tribunal hearing set for August

The Special Tribunal has ordered the respondents to appear on 11 August 2026 to explain why the interim preservation order should not be made permanent. The SIU has also been directed to institute the main civil recovery proceedings within 30 days of the order.

SIU continues recovery efforts

The SIU welcomed the preservation order, describing it as an important step toward protecting assets while civil recovery proceedings continue. The unit said it remains focused on recovering financial losses suffered by the State, holding those responsible accountable and protecting public resources from corruption.

The investigation forms part of broader efforts to strengthen accountability in public institutions and recover assets allegedly linked to unlawful activities involving state contracts.