The SIU Tribunal has ordered that assets belonging to former Transnet executives Thabo Lebelo and Phathutshedzo Mashamba, their wives and family trusts be frozen. | City_Press
The Special Investigating Unit Tribunal has ordered that assets belonging to former Transnet executives Thabo Lebelo and Phathutshedzo Mashamba, their wives and family trusts be frozen pending an application to have them forfeited to the state.
for recovery of damages or losses and disgorgement of secret profits, to be instituted by the applicants against the respondents within 60 days from the date of this order. the disgorgement of secret profits they earned from suppliers and tenants of Transnet Property, which profits were also bribes, kickbacks, gratification or gratuities paid to them as a result of their roles in awarding lucrative service or lease agreements from Transnet Property.
“Mr Lebelo and Mr Mashamba were both instrumental in Superfecta and BBDM obtaining lucrative contracts from Transnet Property. Over the period February 2016 to August 2018, Superfecta earned over R64 million in payments from Transnet, as a result of its business with Transnet Property,” the affidavit read.BBDM also scored R73 million following its lease with Transnet for tenant installation allowances.
The SIU stated in the affidavit that Mashamba received R2 million from Khoncha that was paid towards the purchase price of Portion 490 of a Diepsloot farm Number 388, which was subsequently bought by Mashamba’s wife’s company, Red Lip Communications, for R2.3 million in June 2018. He added that “secret profits that Lebelo and Mashamba earned from a supplier of Transnet for the benefit of themselves and/or their relatives, are in conflict with their duties and relationships of trust as employees of Transnet”.
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