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Transnet locomotive on tracks
Two former Transnet executives are appearing in the Palm Ridge Magistrate’s Court, in Ekurhuleni after handing themselves over to police this morning.
Their appearance is linked to an alleged fraudulent R93 million locomotive tender.
In 2012, Transnet went on a tender for the acquisition of the more than 1 000 locomotives.
[BREAKING NEWS]
Two former Transnet executives have been arrested in connection with a R93-million locomotives procurement deal. pic.twitter.com/6zh33eaCHN— SABC News (@SABCNews) June 30, 2025
The executives are charged in connection with an irregular payment of R93.4 million to Trillian Asset Management for organising a R30 billion loan to help buy locomotives.
It’s alleged it was a double payment as Transnet had already paid another transaction advisory firm Regiments.
Trillian allegedly did nothing to earn the fee but invoiced Transnet.
Four former #Transnet employees are set to appear in the Palm Ridge Specialised Commercial Crime Court this morning after handing themselves over to police. Their matter is linked to the a flagged R93 million locomotive tender #SABCNews pic.twitter.com/4K8WXr9JfJ
— Katlego Legodi (@KatlegoLegodi_) June 30, 2025
