HUAWEI’S E1.7M VANISHES, LINDIFA LAW FIRM ACCOUNTS FROZEN

MBABANE – A dispute has arisen over the whereabouts of over E1.7 million deposited into the Trust Account of a law firm that was operated by the late shrewd lawyer Lindifa Mamba.

The sum of E 1 750 000 was reportedly deposited into the bank account  of L.R Mamba and Associates by Huawei Technologies (PTY) Limited in respect of an immovable property it was purchasing from Vilamoura Holdings (PTY) Limited. Huawei is alleged to have entered into a deed of sale with Vilamoura for the purchase of immovable property described as: Portion 413 (a portion of portion 25) of Farm No.50, situated in the district of Hhohho, measuring 4 518 square metres. The late Mamba was the conveyancer, hence the money was deposited into his law firm’s bank account. A conveyancer is a licensed professional who provides advice and information with regard to the transfer of property ownership.

The curator of Mamba’s law firm, Mabandla Manzini, is alleged to have since advised the company and its attorneys that the money was no longer in the Trust Account and, therefore, could not confirm if the funds still existed.  The company contended that it appeared that the money might have been appropriated for other things and not what was envisaged by the parties. “Pursuant to various engagements and on March 23, 2021, the curator wrote to our attorneys, confirming that indeed the funds had been paid out of the Trust Account and that their whereabouts were unknown,” averred the company. Huawei Technologies (PTY) Limited yesterday obtained an interim order interdicting the curator from dissipating, withdrawing and distributing monies in two banks accounts in the name of L.R Mamba and Associates held with First National Bank.

Judge Titus Mlangeni also interdicted and restrained the bank from permitting withdrawals or transfers of the amounts in both accounts, pending the final determination of the claim submitted by Huawei and Vilamoura to the curator. The court also directed the curator to provide a full and proper statement of account and related information with respect to the trust deposit (pre-payment) allegedly made by Huawei Technologies (PTY) Limited to the conveyancer L.R Mamba and Associates. The order by the court comes after Huawei moved an urgent application at the High Court yesterday.  Respondents in the matter are the curator (Manzini) and First National Bank Limited.

In his founding affidavit, Yao Aiquan, who is the Director of Huawei Technologies (PTY) Limited, narrated that in terms of Clause 5.1 of the Deed of Sale, his company was obliged to pay Vilamoura’s nominated conveyancer L.R Mamba and Associates an amount of E1 750 000 as a ‘pre-payment’. He told the court that this amount was equivalent to 10 per cent of the purchase price. According to Yao, there were delays in the finalisation of the transfer of the property. These are allegations whose veracity is still to be tested in court and the respondents are expected to file their papers.

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