FNB Gags Now-DA Councillor Simon Lapping & Threatens to Reinstate the +R100K on Bond If He Speaks


By Pinky Khoabane


FNB’s CEO Jacques Celliers “paid DA Councillor ‘to go away'”

IN an email of 26 July 2011 to the now-Democratic Alliance (DA) Councillor Simon Lapping, FNB’s Legal Manager Dawn Smith threatens to reinstate the R7000 bond registration costs plus “the capital haircut (capital haircut is over R100k)” paid by the bank into the former’s loan account if he should speak to anyone but Smith and a Vincent about the deal.

“We will cover the costs of your bond registration constituting R7000 (seven thousand rand). However, should you lodge a complaint on any forum or medium or any other person beside Vincent or myself, then these costs plus the capital haircut (capital haircut is over R100k) will be added back to your bond account and you will be liable for the full amount”. 

Here’s the email from Dawn Smith to Simon Lapping:

Screen Shot 2017-10-11 at 9.18.42 AM

The sordid details of this payment to Lapping are contained in an affidavit signed by the DA Councillor on 15 January 2015 at Sebenza, in Ekurhuleni. In it, the DA councillor details events surrounding an alleged decision by FNB’s then Credit Card CEO and now FNB CEO, Jacques Celliers, to pay Lapping “to go away” and effectively keep quiet about “their use of NAEDO (Non Authenticated Early Debit Order) system to scan client accounts and to ‘grab’ money without an authorised debit order”. Lapping told Celliers and others who were in a meeting a day after he had written a letter to then CEO Michael Jordaan, that the practice was “unacceptable and unconstitutional.”

“Mr Cillier’s (sic) response was: ‘I will give you R100,000 to away'” the affidavit reads.

The saga stems from what Lapping says was harassment from FNB’s debt collectors for an amount of R400 owed on his credit card and overdraft facilities. In frustration he wrote to Jordaan threatening to also harass him if their debt collectors wouldn’t stop. The meeting with Celliers for the R100K was then scheduled for the next day.

Included in the alleged “deal” was for Lapping to close his credit card and overdraft facility for which he was paid R3,500. The R100,000 was to be paid into a home loan that would be opened once the DA councillor’s divorce was finalised, which happened in 2010. FNB kept to their promise and a new bond of R155,000 was opened for Lapping.  In addition, FNB would pay for the transfer fees. “Around September 2011, the property was transferred into my name with a new bond of R155,000 (quite good for someone with no job, income etc). My outstanding balance was about R125,000. A month later in the beginning of October, I paid R2800 into this bond, the only payment I ever made. A few days later, a mysterious amount of R150,000 was paid into my bond therefore leaving me with a credit of approximately R30,000,” the DA councillor continues in his affidavit.

FNB Gags

  • Lapping could not contact the FNB CEO and the transaction could not be reflected on ITC.
  • He could not mention this deal to anyone but Smith and Vincent

How FNB Wiped-Off Now-DA Councillor Simon Lapping R125,000 Home Loan just for R400 Owed On His Credit Card & Overdraft








1 Comment on "FNB Gags Now-DA Councillor Simon Lapping & Threatens to Reinstate the +R100K on Bond If He Speaks"

  1. Mmmmmm the plot thickens!!!!

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