Honestly and Integrity

Dear Mr De Kock.

It has come to pass that Wesbank, BMW Finance , Standard Bank vehicle finance and MFC has been a willing participant in *******, ********** and immoral dealings and partnerships with their dealer network, offering client special financing deals, developing very innovative financing deals on options through its partners, dealer network and subsidiaries such as Nissan Finance, Peugeot Finance and their graduate program finance options available to the public and recently Haval Finance all trading under Wesbank. I am one of the many consumers that have been ******** in this saga.

From 01/2017 to 09/2017 many consumers were led to believe by the Dealer Principal – Madelaine Coburn as well as the Finance and Insurance (F&I) – Martin Breytenbach Roux and Nomonde Monica Jafta (which represents the interest of both the bank and the dealerships and is required to act with honesty and integrity, treating customers fairly (TCF) and not to mislead consumers and to be completely transparent when financing a vehicle) and salesman that they were receiving a special deal at Melrose Arch BMW. This was the complete opposite of what I have experienced from both my bank (FNB)/(Wesbank)whom I have trusted for many years and BMW a well known professional brand.

These deals were concluded between 12/2016 to 09/2017 spanning over approximately 10 months. Having perused the documents pertaining to the deal, it is an insult to all South Africans that Wesbank is still allowed to trade and operate within our borders. A case has been opened at the Sandton Police Station and is current being investigated by the Special Commercial Crimes Unit (Hawks) since 2017.

The special deal:

Consumers were offered a cash back/dealer assistance as standard when purchasing a new vehicle through the dealership.

The deal was processed by the bank relying on no offer to purchase and offer to purchases bearing no signature.

Consumers were over charged on fictitious extras amounting to over R150 000 on every deal.I was financed for extra's that do not even exist on the car, was charged for extra's that come as a standard factory feature.

Certain government employees were not given government interest rates.

Income and expensive were **********ly submitted and finance were still processed and approved by Wesbank.

During the application process figures were over charged compared to the invoice and the actual contract submitted. Trade in information was use with no consent from the consumer and was almost triple in value. However you did not pick uo this how? You have to look a an invoice to pay out.

Consumers have been over charged up to 30 – 40 % of the price of the vehicle therefore consumers are paying instalments which are double the normal instalment price.

It is clear that no due processes and wesbank's own policies were followed in these deals however Wesbank approved these deals and sold these vehicles to its dealership under ********** and ******** conditions. Instead of cancelling these deals and holding the dealership accountable, the CEO and Wesbank chose to demand instalments under the ******** contract. Consumers have tried numerous times to have these contracts explained in detail, we have requested the application documents in which Wesbank refuses to entertain, this Is in violation at the NCR Act, Wesbank does not respond to questions requiring them to explain how they come up with the ********** figures on the contract which a violation of the Credit acts is also. Despite the evidence pointing to the involvement of Wesbank as party to the *******ion of the deal, Wesbank still has the audacity to play victim in the whole structuring of the deal.

I call upon you Mr De Kock to occupy moral high ground and resolve this matter with the urgency it deserves. Carte Blanch also approached you for an interview and seeking answer and giving Wesbank an opportunity to clear its name. instead you chose to decline to comments and declined an on-camera interview.

We are giving you an opportunity for you and your management to redeem and clear your name in this **** and ********** deal. We will be approaching all other institutions as well as media to expose high profile individuals who feel they can undermine the rights of ordinary South Africans through greed, *******ion and disregard the rights of others.

Despite the evidence pointing to the involvement of Wesbank as party to the *******ion of the deal, Wesbank still has the audacity to play victim in the whole structuring of the deal. Wesbank stance on the matter towards the consumer over the past 2 years is to steer the consumer to the dealership and to the Regulators. It is of our opinion that Wesbank and the regulators (NCR, Motor Ombudsman and NCC) seem to also distance themselves from resolving the matter and referring the matter to different jurisdictions. This matter is a high-profile case and it has been deliberately ignored by regulators and politicians. As per current matter that have been made available to the public via predominant radio stations.

Please note that if the matter is not prioritized with its utmost urgency, we will be referring the matter to the Reserve bank, SARS and Department of economics, Trade and industry, The head of the NPA (Adv S Batohi), Ministers in the Department of Justice.