FNB Discrimination Case To Go Ahead This Year


UnCensored has been inundated with requests for updates on the FNB Discrimination and Surtie Trillion-Rand Inheritance cases.


The First National Bank (FNB) case in which it is accused of discriminating against Black low-cost housing clients will be heard in the Western Cape Equality Court this year. The hearing, which was scheduled for August last year, was postponed. FNB argued that it could not have been guilty of discrimination prior to June 2003, when the Promotion of Equality and Prevention of Unfair Discrimination Act came into effect. The Equality Court’s Judge Fortuin ruled that Emerald Van Zyl, the financial investigating consultant, who acted on behalf of the 4000 claimants in the case,  to amend his pleadings to reflect the fact that the court’s jurisdiction only came into effect in 2003.

The claim stems from low cost housing clients of the former Saambou Bank which was taken over by FNB when it went bankrupt in 1998. Van Zyl alleges that the bank used codes to identify clients by race. Black clients were charged more interest than their white counterparts and their rates were never dropped when interest rates went down.

It’s not the first time Van Zyl takes FNB to court. The last time he did, seven years ago, he lost with costs but maintains the judgement was flawed because he wasnt there with accusations of racism. He says he accused the bank of charging clients interest rates above the permissible amount in terms of the Usury Act. The judge found no racism and ruled the interest rates charged were reasonable.


About two years ago we received information from a private forensic investigator Jeff Koorbanally about an alleged trillion rand Surtie inheritance, allegedly stolen by the South African Reserve Bank and given to ABSA as bonds. Here’s one of the articles we published as an open letter to Judge Zondo, who currently heads the State Capture Commission. Koobanally followed up with more information which we published and from which emerged a toxic family feud with many members laying claim to the inheritance.

People who claim to be members of the family have constantly written in to UnCensored demanding updates, with some alleging that a resolution to the inheritance was supposed to be made this past Christmas.

Koorbanally responded thus: “I have not mentioned anything about any resolution to be reached before Xmas, but mentioned lengthy litigation process. The matter is now being handled by lawyers appointed by Mr Surtie, the main beneficiary. Im not allowed to comment on the matter anymore”. 


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