MBABANE:Mvuselelo Fakudze, the Standard Bank Chief Executive has been accused of colluding with other bank officials to grab and sell a house worth about R2million to trucks owner Mbongeni Mndvoti, the house belonged to businessman Mangaliso Sonto.
It is alleged that, Fakudze took advantage of the businessman’s financial challenges allegedly caused by the recent COVID-19,the businessman subsequently recovered financially and his efforts to communicate with the bank and be allowed to pay were ignored as the Chief Executive and the bank officials were already selling the house.
The businessman subsequently challenged the matter in court and further reported the Standard Bank officials to the Anti Corruption Commission(ACC).
This comes after the bank sold the house to Mndvoti who was not even present during the auction.
A questionnaire was sent to the Standard Bank Chief Executive, however, he had not responded at the time of compiling this report.
But businessman Mangaliso Sonto confirmed to this Swaziland News on Sunday that, his house situated at Madonsa-Manzini was allegedly sold by Standard Bank officials through alleged corrupt means.
“It was sold to Mbongeni Mndvoti who was not even present during the auction.I was owing the bank as I was facing financial challenges and my financial status later improved and when I engaged the bank, pledging to pay I was ignored while the process to sale my house continued. But before that, my wife who is employed by the revenue authority came-in to assist financially but she was ignored”, said the businessman.
Reached for comments on Sunday evening, businessman Mbongeni Mndvoti said he bought the house in a clean deal with the bank.
“I saw a house being advertised in the newspapers and I developed interest after the third(3rd) advert as the house went down from about R1.9million to R1.4million. As as buyer, I don’t even understand why I’m being dragged into this issue, I was even summoned by the Anti Corruption Commission over this matter and I told them how I bought the house. The matter is in court, Sonto is challenging the bank and even though I am already paying for the house, Sonto is staying there pending finalization of the matter because I respect the law. Even though I would not want to delve much into the matter but, to the best of my knowledge, banks are not our relatives,they are in business. If you fail to pay as per the agreement, they sell the house in terms of the law and the agreement, they don’t entertain explanations. They can even grab it from me if I can violate the agreement and delay to pay. So he must sort this issue with the bank, I was just the buyer. It’s true that I was not present during the auction but someone was representing me and the law allows that as long as that person declares”, said the truck owner.
Jabu Phakathi, the Spokesperson of the Anti Corruption Commission had not responded at the time of compiling this report.
On another note, documents in possession of this Swaziland News suggest that, businessman Sonto further reported Standard Bank to the Central Bank of Eswatini(CBE), the regulator of banks in eSwatini.
The house situated at Madonsa(pic: Google).