Conduct of Absa and employee.

Dear Reader

RE: BASE PIZZA COFFEE GELATO (PTY) LTD, STEVEN ALBERT YOUNG AND ELAINE TRACY YOUNG

The events below are not intended to damage or defame any organization or individual, but is merely a record of facts which we strongly believe is in the public interest.

Mr. Young, on behalf of Base Pizza Coffee Gelato (Pty) Ltd app**** for various loans to be granted to Base Pizza Coffee Gelato (Pty) Ltd. (hereinafter referred to as “Base”) from a personal or business banker at that stage in the employ of ABSA Bank Ltd.

In order to apply for such loans or even overdrafts, Mr. Steven Young, was informed that the individuals had to sign surety agreements in support of such loans to be successful. Mr Young pertinently informed the individual banker that his wife, Mrs Elaine Young, would not sign such a surety agreement, butwould be willing to support the repaying of any loan by providing financial assistance to the company in repaying the loans. The bank and its employee were au fait with and satisfied with such an arrangement.

Mr. Young expressed his consent to sign the required

suretyships. In fact Mr. Young signed the suretyship pertaining to him on 2

October 2019. Mrs. Young did not do so.

Mr. Young visited the banker’s office at various stages; up to twice weekly, as there were

ongoing negotiations relating to the establishment of franchises of the business

known as Base. ABSA Bank would have financed the aforesaid, if approved.

During such a visit, subsequent to Mr. S Young signing the surety on behalf of

Base, the banker produced a document and indicated to Mr. Young that the only issue

or document his wife had to sign, was that she will financially contribute to the

loan granted and only when required. Mr. Young agreed to the same. He

thereupon telephoned his wife and conveyed the content of the conversation

and document to her in the banker’s presence. Mr Young did mention that he would not be

available the date on which his wife Elaine would sign the aforesaid.

Upon visiting Mrs. Elaine Young the following day, she was extremely busy

performing her duties as a hairdresser. The banker, in a sly and ********* manner, in

some or other way, covered up the heading of the document presented to

Mrs. Young for signature. She signed the same after being informed and

assured by the banker and her husband that the document would not entail a

suretyship. She never looked at the same prior to signature and accepted the bank’s intimation of it only being a standard document requesting her intermittent

financial contributions.

In fact, it was a suretyship agreement that she signed without her being made

aware thereof, by such a ********* manner. This document is

strangely dated 12 June 2020, virtually a year later than the one Mr. Young

signed. It is noteworthy that a suretyship signed by one Mr. A Coetzee, is also

dated 2 October 2019, similar to that of Mr. Young. The signatures of the banker on the suretyships signed by Mr. Young and Mr. Coetzee differ from the banker’s alleged

signature on the suretyship signed by Mrs. E Young.

As a result of the ********* manner in which Mrs. E Young’s

signature was obtained, she in her personal capacity, is now being held responsible for the

debts of Base.

Mr. & Mrs. Young, at this stage require an acknowledgement of the above

*********

conduct in obtaining her signature.

We await your reply.

Furthermore Absa insurance insured Mr. Young’s immovable property which was partially destroyed in a first fire a number of years ago. Absa inspected the property when the policy was signed up and completed the relevant portions relating to the building materials which the house was built with. After the fire, the insurances did not pay out because the broker failed to mention that a portion of the house was not built with bricks. Mr. and Mrs. Young has therefore suffered huge loss as a result of the actions of certain employees of Absa.