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Former Transnet executive loses bid to regain R18-m in assets seized by the state

Former Transnet executive loses bid to regain R18-m in assets seized by the state

AFRICAN MIRROR REPORTER A former Transnet executive has lost his bid to recoup 35 luxury vehicles, two farms and houses in gated estates which the state believe are proceeds of crime. Herbert Msagala went to court in an effort to regain the assets, worth R18-million, which were attached by the Special Investigating Unit (SIU) but lost. The seizure of the assets was made permanent and he was also ordered to pay the cost.  Transnet The SIU has announced that a Special Tribunal heard Msagala’s case and confirmed a preservation order dated July 30. The Special Tribunal further declared that assets…
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