The Special Investigating Unit (SIU) secured a preservation order for 24 luxury properties and supercars worth millions of rands belonging to tenderpreneur Siyabonga Nkosi after he overcharged power utility Eskom.

IoL reports that the properties are in Mpumalanga, Gauteng and KZN, according to the order obtained by the SIU at the Special Tribunal last month.

Nkosi’s portfolio of 17 properties includes a R13.5m house at the Capital on the Park in Tshwane and a R10.8m house in Witfontein, also in the capital city.

Special Tribunal president Judge Bernard Ngoepe ordered that Nkosi’s immovable properties, with immediate effect, are prohibited from being sold, disposed of, leased, encumbered (including by granting rights of retention), transferred, donated, or dealt with in any manner whatsoever other than in accordance with his order.

According to the tribunal's order, Nkosi and 12 others must register a notice against the properties.

This means that without a written agreement between the SIU and any of the involved parties, they cannot transfer ownership of the properties to anyone else.

The judge also instructed the Road Traffic Management Corporation, which owns the electronic National Traffic Information System (eNaTIS), to place a notice on the registration details of the motor vehicles in eNaTIS.

This notice states that, without a written agreement between the SIU and any of the parties involved in the application, the transfer of ownership of the vehicles is prohibited.

Additionally, the registration of the vehicles to any other person is not allowed unless it follows the tribunal's order or has court approval.

IoL notes that Nkosi, his trusts and trustees were directed to disclose the whereabouts of the motor vehicles and to point it out to the corruption-busting unit or its duly appointed agents immediately on the service of the order.

Full IoL report