MC BOTES EXPOSE SERIOUS CRIMES OF ABSA BANK

Be warned about an ABSA BANK scandal and cover ups. Please notice ABSA BANK “overdraft” clients or public in general, be aware of the bank’s *****ulent manner to make use of an ******* systems algorithm that deliberately overstates the accounts and force it into penalty mode with disastrous results. When caught the bank out and ABSA legal will call it a systems error or a so-called “bona fide” error. We are of the opinion, with good insight thereof, that there are thousands of these accounts where ABSA seemingly or potentially profited millions or billions of Rands from in an ******** manner, and where people got *******ly sequestrated, and their properties sold ********ly, dumped on the streets with serious emotional damage (like my family). The manner in which the ABSA legal team acts to cover up, intimidating tactics used, the blocking of important information to us as clients, desperate actions taken as per below short summary tells the story about the case and the bigger picture. The detail or the truth will still surface and be exposed with massive claims for ABSA's account. As they say, "Justice will always prevail" and nobody or no corporate is above the law.

The above is nothing less than organized crime, commercial sabotage with the intent to destroy people's lives, reputations and all under the license of a bona fide error. No account work in isolation, but all similar accounts use the same algorithm fixed on the system (logically),

On a R2.4M overdraft facility ABSA overstated our account by R574K and was forced to acknowledge their error. For 6 years the bank officials never wanted to believe us that the calculations were wrong, and we were told that the system cannot make an error. Well, the rest is history, my wife and I got sequestrated ********ly based on the above wrong calculations, our R4.5M property got ********ly sold for way under market for R2.6M via reckless liquidators and the bank *******ly load another R1.5M debt on the company and threatened my business partner to either pay the debt or they will also sequestrate him and his wife (70-years old) and dump him from his property as well.

We could eventually challenge ABSA BANK’s *****ed figures once the bank and Sechaba Trust (appointed liquidators) got caught out with a well-planned tactic not to allow me to attend the First Creditors Meeting because they knew that I was going to challenge the *****ed figures in front of the Presiding Officer of the Court, therefore their representative told me a COVID spike is experienced in the court building and that it will the meeting will be rescheduled. Just to find out that the Meeting took place without me and with no challenge to the ABSA BANK's *****ed figures and the Presiding Officer accepted the figures blindly (obviously he was not updated about me wanting to attend the meeting desperately). Worst of all, I got marked on the Minutes of the meeting as a full attendee, meaning that I have accepted the wrong figures. What does all the above mean, the liquidator could continue with the ******* sale of my property. But, after a massive argument with the liquidator we were allowed to challenge the ABSA BANK figures, although the process to sell my property without waiting for the outcome of the disputed figures continued with a dash of speed (it should obviously have been stopped).

Also note that the liquidator and the bank operated in cahoots with one another to dump properties as quick as possible and they don't implement RULE-46 to allow the owner to agree to the input price of the property (well know crime on its own implemented by above parties).

My business partner is a highly skilled mathematician with a master’s in mathematics and app**** mathematics, MBA and could prove to ABSA’s accountants, after 5 months and 7 recons in a very hostile environment that their calculations are wrong. ABSA acknowledges the overstated figures via an official letter to the Master of the Court and an email to me (too little too late).

I then requested thereafter for compensation and to reinstate my financial status via the ABSA official complaint desk and was supported by Melissa Muller, a senior legal litigation officer of the bank. After more than 3 x written commitments that she will submit the internal ABSA report results/findings to me she deliberately disappeared (they do this all the time once in a corner). ABSA legal were obviously worried that the results will be made available in the public domain and her manager obviously stopped her from doing so. After more than 3 years of no commitment from the bank to compensate for their deliberate error, with the disastrous impact thereof on our company, and our families they rather used well planned cover up tactics that are based around lies and more lies to rather divert from the truth and play for time (********* and deliberate). Their legal head, Mr. Steven Palmer is the best jinx and jive expert in their office and went even further to cover up Melissa Muller’s deliberate crimes against us after she has admitted in an official meeting, in front of 4 people, that she has unauthorized access to our confidential complaint information to the Master of the Court and it is on her PC (a serious crime committed in an arrogant manner). In a meeting with the bank Melissa Muller verbally abused us in a serious disrespectful manner, tried to intimidate and bully us with the additional R1.5M debt created ********ly against the already demised company. We reported her serious gross misconduct to the Director of HR in ABSA and her misconduct was wiped off the table by Mr. Palmer as her direct manager, as a show of disrespect and for another client to be abused by her again in the near future (the sick trend is clear - don't do the right thing). It must be a very sad job as ABSA legal to run around and bull dust clients and cover up with lies for their employer (integrity???).

Let me explain the ABSA system error with a simple example. Suppose the overdraft limit was R1,000 and the balance is R1,500, it is R500 over the limit.

The correct contractual algorithm for the monthly interest calculation should be, assuming a 30-day month, R1,500 x 11% X (30/365) plus penalties of R (1,500-1,000) x 2% X (30/365) = R13.56 + R0.82 = R14.38.

ABSA’s un-contractual or wrong implemented algorithm was 11% + 2% or 13% on the whole balance, or R1,500 x 13% X (30/365) = R16.03. This amounts to a difference of R1.65 per month.

It does not seem to be a lot but note our account overstatement of R574K for an R2.4M account.

On the last note, both of us banked with ABSA for over 40 years and got treated by ABSA like *** slurry with a deliberate plan and mastermind to destroy us financially and emotionally via an organized crime. If you need to know more about these ABSA crimes, please call me, MC Botes on ***.