The Special Investigating Unit (SIU) has obtained a court order to preserve two luxury properties worth over R15m linked to former Prasa CEO Lucky Montana, as part of an investigation into a R5.6bn corruption case.

The properties, located in Hurlingham, Johannesburg, and Waterkloof, Pretoria, were seized after investigators found that Montana’s declared income could not account for their acquisition.

The SIU alleges a direct financial trail connecting the properties to proceeds from the Isams contract awarded to Siyangena Technologies, a subsidiary of TMM Holdings.

Bank records show funds from TMM group companies and Precise Trade and Invest were used to purchase the properties, which were later registered in Montana’s name.

The tribunal has ordered the preservation of these assets to prevent their sale or transfer during civil proceedings to recover alleged corrupt gains.

The investigation reveals a complex web of transactions involving multiple entities, including Botswana-based Midtownbrace, which facilitated the purchase of the Hurlingham property.

The SIU emphasizes its commitment to recovering public funds and holding accountable those involved in the corruption of Prasa’s security contracts, which ballooned to R5.6bn by 2016.Legal proceedings will determine the final status of the preservation order and the next steps in the case.