A SANDTON, Johannesburg, lawyer is facing accusations of stealing over R2.6 million from a widow and has now been ordered to account for the funds, which were the proceeds of a North West property sale.
Mohseen Mayet and his Sandton-based law firm, Mohseen Mayet, were ordered by the Gauteng High Court, Johannesburg, to make all records relating to five payments totalling just over R2.6 million available to the co- and joint executors of late Abdullah Ellemdin’s estate, Zunaid Abdoola and Ahmad Bham, respectively.
The high court ordered that Mayet and his firm to furnish Abdoola and Bham as well as the Legal Practice Council (LPC) with all records containing the particulars and information contemplated by the Legal Practice Act together with substantiating vouchers detailing the particulars of to whom monies were paid out of the funds to from the trust account of Mohseen Mayet Inc.
The act makes it compulsory for a trust account practice to keep proper accounting records containing particulars and information including money received and paid on its own account, any money received, held or paid on account of any person, money invested in a trust account or other interest-bearing account and any interest on money so invested which is paid over or credited to it.
In addition, Mayet and the legal firm were directed to deliver to Abdoola and Bham the entire contents of the file relating to the Ellemdin’s estate, letters of executorship issued by the Master of the High Court.
Mayet and his firm were also declared to be jointly liable for payment of over R2.52m to the estate of Ellemdin, who died in 2021.
Banking giant FNB, through which the trust account is held, was directed to provide the co- and joint executors and the LPC bank statements for the trust account for the period between April 2022 and the end of November last year.
The bank must also provide statements for all accounts operated by both Mayet and his law firm during the same period.
The order also states that pending the outcome of the LPC investigation into Mayet and his law firm into the handling of the funds or the institution of legal proceedings against Mayet in terms of the act, he is interdicted from operating any bank accounts of his law firm such as business and trust accounts including the trust account in question with the sole control of such bank accounts to be placed under his former partner in the law firm.
The act makes provision for a curator bonis to be appointed in respect of trust account if any legal practitioner becomes insolvent, is struck off the roll or suspended from practice, declared by a competent court to be incapable of managing his or her own affairs or abandons his or her practice or ceases to practise.
In response to the action taken against him and his law firm, Mayet has stated that he invested the funds at his discretion and on Abdoola’s instructions, blessings, and authority in a company identified as Ultimate Heli in 2021.
”The subsequent on-sale of those shares, which would yield a beneficial return in due course for the beneficiary of the funds, as well as for Abdoola, and myself,” Mayet explained, adding that he already holds a 26% share in the company.
He continued: “The capital sum invested will yield the anticipated returns which will be more than sufficient to cover payment due to the beneficiary by no later that June 30, 2025.”
Ellemdin’s estate denied Mayet’s claim against Abdoolla, which it insisted were fabricated and that he (Abdoola) reserved his rights against him.
”Your offer to repay the funds by June 2025 and provide sureties for such are rejected. None of the undertakings you seek will be provided,” the estate responded to Mayet.