SIU freezes R76.5 million in properties and luxury cars in Eskom corruption case

The Special Investigating Unit (SIU) has frozen assets worth R76.5 million linked to alleged corruption involving Eskom.

The SIU got a court order from the Special Tribunal to stop 17 properties and 7 luxury cars from being sold or moved. The assets are linked to businessman Siyabonga Moses Goodwill Nkosi and his network of trusts.

The investigation found that between 2021 and 2023, some Eskom officials at Kusile and Matla power stations approved overpriced equipment deals. These deals involved relays, which are important parts used to keep power stations running.

According to the SIU, the relays were bought for about R50,000 each, even though their real price was between R180 and R450. This caused a loss of more than R73 million to Eskom.

Investigators also found that officials split orders into smaller amounts to avoid strict tender rules. Fake part numbers were used so that only certain companies could win the contracts. Some of the equipment bought was not even needed and is still unused.

The SIU said Nkosi and his trusts used the money to buy expensive properties in Gauteng, KwaZulu-Natal and Mpumalanga. The money was also used to buy luxury cars, including brands like Lamborghini and Porsche.

The court order means the assets cannot be touched while the SIU continues its case. The unit now plans to cancel the contracts and recover the lost money.

If any criminal activity is confirmed, the SIU will hand the case to the National Prosecuting Authority (NPA) for possible prosecution.

The SIU said it remains committed to fighting corruption and recovering public money.