SIU to freeze R22m from bank accounts of Gauteng Education appointed companies

Johannesburg -The Special Investigating Unit (SIU) has said that it has been granted an order to freeze bank accounts of 7 more companies with the sum of R22.4 million.

The companies, together with over 200 others, were irregularly appointed by Gauteng Education to sanitize schools for a whopping R431 million, according to the SIU.

“The R22.4 million order is in addition to the R40.7 million preservation order granted last month in the Gauteng schools decontamination matter. Special Tribunal order prohibits Chachulani Group Investment Holdings, Muta Investment Holdings, Netvision Energy Savers, Psychin Consulting, Home Ground Trading 1105, Mpale Investments Holdings, and Naledzi Investment Trust from dealing with the funds held in the bank accounts,” the SIU said in a statement.

“The companies began dissipating the funds received from the Gauteng Department of Education, upon receipt. Traces of the funds show that, the companies made large payments to unidentified recipients who have, in turn, disposed of them.”

The SIU went on to state that some of the funds went towards travel and accommodation, and towards loan repayments.

“It appears that the companies have been disposing of the funds with the intention of frustrating any claim that the SIU may have to those funds,” the SIU further stated.

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