The Special Investigating Unit (SIU) has secured a preservation order to freeze 17 properties worth R76.5-million and seven luxury cars belonging to businessman Siyabonga Moses Goodwill Nkosi.
The investigating unit confirmed that it has secured the preservation order in a media release issued on Tuesday afternoon, adding that the law enforcement operation sanctioned by the Special Tribunal has resulted in the freezing of assets linked to Nkosi, the husband of high-flying social media influencer Leleti Nkosi, and his network of trusts.
The SIU stated that in line with the law governing its law enforcement operations, it will refer any evidence of criminal conduct uncovered during its investigation to the National Prosecuting Authority for further action.
In the order granted by Judge Bernard Ngoepe, Nkosi is now prevented from disposing of assets by selling, transferring, or hiding them while the SIU seeks to set aside irregular contracts and recover public funds.
“The SIU investigation, authorised under Proclamation R.80 of 2022, uncovered how Eskom officials at Kusile and Matla power stations turned procurement into a jackpot.
Purchase orders split
Between 2021 and 2023, officials approved inflated and irregular purchase orders for relays, which are equipment meant to keep power stations running.
“Instead of delivering reliable service, Nkosi’s companies delivered invoices. Eskom officials signed off on contracts that priced relays at R50 000 each when the market price was between R180 and R450.
“This manipulation resulted in a direct financial loss of R73,650,994.87 to Eskom,” said the SIU in the statement.
The unit also said that Eskom officials would allegedly split purchase orders to keep transactions below the R1-million threshold, saying they did this to abuse the informal tendering system and avoid formal procurement processes.
“False part numbers were uploaded to Eskom’s systems to ensure only colluding vendors could bid, inflating costs for equipment that was never needed and remains unused in stock years later.
“Nkosi is cited both personally and as trustee of the Nkosi Royal Trust, Sibongukukhanya Trust, and Siyabonga Kankosi Trust.
“These entities became conduits for laundering Eskom’s procurement money into prime properties in top suburbs, estates, and land in Gauteng, KwaZulu‑Natal, and Mpumalanga, as well as a garage of luxury cars such as Lamborghinis, Porsche Cayennes, and a Panamera,” said SIU.
Proceedings to be launched within 60 days
Based on the preservation order, this will allow the SIU to launch proceedings within 60 days of the order’s date.
“In line with the Special Investigating Units and Special Tribunals Act 74 of 1996 (SIU Act), the SIU will refer any evidence of criminal conduct uncovered during its investigation to the National Prosecuting Authority (NPA) for further action.
“The SIU is also authorised to initiate civil proceedings in the high court or a Special Tribunal in its name to correct any wrongdoing uncovered during its investigation and to recover financial losses suffered by the state, including funds paid for services not rendered,” said the SIU.
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- The Special Investigating Unit (SIU) obtained a preservation order to freeze 17 properties valued at R76.5 million and seven luxury cars linked to businessman Siyabonga Moses Goodwill Nkosi.
- The asset freeze was authorized by the Special Tribunal and targets Nkosi and his associated network of trusts.
- The SIU confirmed the freezing of these assets as part of an ongoing law enforcement operation.
- Any criminal conduct uncovered during the investigation will be referred to the National Prosecuting Authority for further action.
- The investigation is ongoing, and further updates are expected.
In the order granted by Judge Bernard
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Between 2021 and 2023, officials approved inflated and irregular purchase orders for relays, which are equipment meant to keep power stations running.
"Instead of delivering reliable service,
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“False part numbers were uploaded to Eskom’s systems to ensure only colluding vendors could bid, inflating costs for equipment that was never needed and remains unused in stock years later.
"
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Based on the preservation order, this will allow the SIU to launch proceedings within 60 days of the order's date.
“In line with the Special
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Visit SW YouTube Channel for our video content
