ABSA TRUST FREE STATE BAD MANAGEMENT.

Complain letter to ABSA Trust.

My name is Mrs Gloria Nhlapo, a legally appointed guardian for my late sister`s three kids (two boys and a girl), my ID number is: 780521……… My late sister`s full details are Mrs Mamoholo Maria Tshabalala *** 084) and passed on 2004-09-26 which she drafted a will under ABSA Trust in Free State. Trust name: Nyabela MM Trust/K Trust number: ***/25 Physical Address: 7645 MAROBA STREET PHUTHADITJHABA 9866

The children/Heirs who are listed under the trust with respective percentages are: 35% to Thakane Juanita Nyabela 35% to Thato Tshabalala 30% to Katleho Nyabela I would therefore want to lodge a complain and investigation as funds have been missing on the trust account and ABSA Bank official has informed us that funds have depleted due to inflation, interest rate and tax. We really want to know what happened to the money, who took it and who authorised the withdrawal of these transactions, we are not satisfied with an explanation provided by Absa official. My sister drafted a will so that when her kids reach the age of 21 years, they will be eligible and get their money all three of them. Both Thakane Juanita Nyabela and Thato Tshabalala got their money but Katleho Nyabela did not get his full share. It is not fair for him to go through this pain, he has a dream on how he is going to use his funds and now his dreams are gone. The main reason why my sister took up a trust was to secure a better future for her children and now it is unfortunate that her last wishes are not met. I also have a will with Absa and I am really frustrated knowing that my kids are young and if I die they might not get their money as per agreement, I really don’t see a reason to have trust with Absa as well anymore. This child is now frustrated and even went on to accuse me of *****ing his money meanwhile the bank has mismanaged the trust and the distribution funds, I understand his anger because he never received even half of his rightful shares. This child needs his money badly to cover necessities as he lost both his parent.

Kind Regard: Gloria Nhlapo Cell: ***