Flamboyant businessman Solomon Soka “My Sol” Madibela’s bid to purchase 39 townhouses was stalled after TymeBank listed him on a fraud database.
My Sol discovered the listing when he applied for a loan to purchase the properties and add them to his portfolio of 30 properties.
TymeBank is currently undertaking a process to remove My Sol from the database as a perpetrator of fraud and instead list him as a victim.
This comes after My Sol approached the Johannesburg High Court challenging the bank to remove his name from the database, arguing that he could not have committed the fraud because he had never opened an account with TymeBank.
According to court papers seen by Africa Daily, TymeBank listed My Sol on a fraud database, alleging that he attempted to defraud a Capitec Bank client using an account opened with the digital bank.
My Sol later removed the matter from the court roll after TymeBank filed a notice to oppose his application.
In his founding affidavit, My Sol said he discovered the listing in April 2023 while attempting to buy 39 townhouses in Rustenburg.
He said he approached his private banker, Tshiamo Badimo, who is employed by Absa Bank, to apply for financing for the properties.
“I confirm that shortly after submitting my application for financing as aforementioned, which took place during April 2023, I was advised by my banker Mr Badimo that I had been listed by the respondent, and in particular a certain Caroline Stigling, who is employed by the respondent, on the national fraud portal,” he said.
My Sol said the alleged incident that led to the fraud listing occurred on 9 March 2021, but the listing was only made in December 2022 — more than a year later.
“The above information came as a complete surprise to me as I have never opened any account, of any nature whatsoever, with the respondent and have no knowledge of the alleged incident which led to the aforementioned listing.
“At no stage did the respondent ever make contact with me regarding the alleged incident and I was never afforded any opportunity to respond and or react to any allegation of fraud having been committed. I submit that if I had been informed/notified of the alleged incident, I would have immediately reacted thereto and would have been in a position to resolve the situation prior to the adverse listing being made against me,” he said.
My Sol said when his lawyers made enquiries with the bank, they were informed that a bank account had been opened in his name.
The account holder allegedly attempted to defraud a Capitec client using that account number.
“I hereby confirm that I have never engaged in any fraudulent activity and in particular have never made use of any TymeBank account, which the applicant still does not have, in order to attempt to defraud any person,” he said.
My Sol did not respond to written questions sent to him.
TymeBank lawyer Tebogo Malatji said the matter was removed from the roll after the bank reached an agreement with My Sol’s legal team.
“An imposter and unknown person perpetrated fraud and opened a bank account with our client purporting to be Mr Solomon Soka Madibela. The said unknown third person attempted to perpetrate fraud at Capitec utilising the bank account opened with our client at TymeBank.
“Upon detecting the aforesaid fraud, our client reported the fraud, as it was duty-bound to do so, with the Southern African Fraud Prevention Service (SAFPS),” he said.
Malatji said My Sol was subsequently listed on the portal following the detection.
“It must be categorically stated that Mr Solomon Soka Madibela is not the person who perpetrated the fraud, but rather that his name was utilised in the commission of the fraudulent transaction.
“He was accordingly, in accordance with the SAFPS code, then listed as a victim in order to ensure that his status is not jeopardised. He was therefore determined not to be a perpetrator of the aforesaid fraud. TymeBank is currently in the process of pursuing the removal of the perpetrator listing with SAFPS,” he said.
Malatji also confirmed that My Sol launched a court application against TymeBank regarding the fraudulently opened account, seeking the closure of the account and the removal of his name from SAFPS’s database.
“TymeBank and Mr Madibela’s attorneys engaged one another from April 2023 until May 2024 in an endeavour to correct the listing on SAFPS records to confirm the status of Mr Madibela as a victim as opposed to a perpetrator of the aforesaid fraud,” he said.
