A Mthatha attorney has been sentenced after he was convicted of stealing R780 000 in trust funds
Image: File image
A Mthatha attorney has been sentenced after he was convicted of stealing R780 000 in trust funds linked to a property sale transaction dating back to 2008.
According to the Directorate for Priority Crime Investigation, commonly known as the Hawks, Vuyani Gwebindlala unlawfully withheld the proceeds of a property sale after he received the money into his trust account during the transfer of a residential property in Southernwood, Mthatha.
He was sentenced to a R600 000 fine or five years’ imprisonment by the Mthatha Specialised Commercial Crimes Court, with a further five-year sentence suspended for five years on condition that he is not convicted of a dishonesty-related offence during that period.
He must also pay R10 000 immediately, with the balance payable in instalments
"The case stems from a property transaction concluded in 2008 involving the complainant, the lawful owner of a residential property situated at Finch Street, Southernwood, Mthatha. The complainant entrusted estate agent Angel Engelrecht with facilitating the sale of the property for the agreed purchase price of R780 000.
"Following the conclusion and signing of the Offer to Purchase by both the seller and purchaser, the complainant appointed the law firm, Vuyani Gwebindlala Associates, to oversee and administer the transfer process in accordance with the legal and fiduciary obligations governing property transactions and trust account administration."
The Hawks added that the purchaser initially deposited R50 000 into Gwebindlala’s trust account before paying a further R730 000 after he allegedly stated that the transfer process could not proceed unless the full purchase price had been secured.
"Investigations later revealed that, despite the successful transfer of the property to the purchaser during August 2008, and notwithstanding confirmation that the full purchase price had been received, the accused deliberately and unlawfully withheld the proceeds due to the complainant.
When the complainant demanded payment, Gwebindlala initially denied that the transfer had been completed.
The Hawks said he later admitted receiving and using the funds after being confronted with proof of transfer and payment.
The matter was then investigated by the Hawks, who found the money was diverted without the complainant’s consent and was allegedly used in a Road Accident Fund-related matter.
IOL News