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Lawyer’s trust account frozen

CHARLENE SOMDUTH charlene.somduth@inl.co.za

THE Durban High Court has frozen the trust account of an attorney accused of fraudulently dealing with cryptocurrency.

Visham Panday, an uMhlanga businessman, brought an application before the court, against Lockhat Mayat Attorneys and Brenen-Lee Wallace Govender. The matter was heard on Thursday.

In his founding affidavit, Panday said he met Govender in October 2021.

Panday said Govender told him that he was involved in the legitimate purchase and sale of cryptocurrency.

Govender also allegedly said any monies advanced by Panday to him would generate Panday a guaranteed return of 2%.

Panday said the return would be paid to him by Govender’s partner, Fathima Lockhat, from Lockhat Mayat Attorneys, through the Trust account at the end of the month. In the same month, Panday allegedly met Lockhat.

He said Lockhat advised him that she assisted Govender with transactions involving the purchase and sale of cryptocurrency. She said the business was lawful and legitimate. Panday claimed she also told him the return on his investments would be paid through the Trust account.

He said he invested R8 948 943 between October 2021 and February 13, 2022.

Panday said that each time that he had made a payment, Govender advised him that he had paid the monies to Lockhat Mayat Attorneys.

He said he was further told that the monies, together with the guaranteed return of 2%, would be paid to him by Lockhat Mayat Attorneys.

Panday said that on five occasions he was advised that the attorney would pay. Nothing materialised. He said Govender had provided him with proof that he had paid monies to Lockhat Mayat Attorneys.

In April, Panday’s attorney, Vasu Gounden, wrote to Lockhat Mayat Attorneys requesting feedback on his payment. He was allegedly ignored. The emails were followed up by Panday’s other attorney, Vinay Gosai, and were also allegedly ignored.

Panday said the relief he sought was to interdict Lockhat Mayat Attorneys from paying out, disbursing or in any way dissipating or dealing with the money held by the Trust.

In her opposing affidavit, Lockhat said the matter was between Panday and Govender. She said she had played no other active role than holding money in the Trust for Govender as a client.

Lockhat said she had never met Panday nor had any dealings with him and called his claims of meeting her a case of mistaken identity.

She said any agreement between Panday and Govender was entered without her knowledge and that of Lockhat Mayat Attorneys.

Lockhat denied the allegations of misappropriation of Trust monies levelled against her and denied that she ever held money in Trust for Panday or had any relationship or agreement with him.

She has asked the court to strike the matter off the roll and dismiss the application. The court, however, ruled that the Trust be seized until the matter was resolved.

The matter was adjourned to this week.

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2022-05-18T07:00:00.0000000Z

2022-05-18T07:00:00.0000000Z

https://thepostza.pressreader.com/article/281590949168587

African News Agency