KEY POINTS
- A Johannesburg lawyer is accused of mismanaging R2.6 million ($140,792) from a client’s trust account.
- The high court has frozen his firm’s bank accounts and ordered an investigation.
- The lawyer claims he invested the money but faces legal action from the estate.
A Johannesburg lawyer, Mohseen Mayet, is in hot water after the Gauteng High Court ordered him to account for R2.6 million ($140,792) missing from his law firm’s trust account.
The funds, which came from the sale of a North West property, were intended for the estate of the late Abdullah Ellemdin.
Mayet and his Sandton-based firm, Mohseen Mayet Inc., were directed to provide full records of five transactions totaling R2.6 million ($140,792).
These records must be submitted to the estate’s co-executors, Zunaid Abdoola and Ahmad Bham, as well as the Legal Practice Council (LPC).
In addition to financial records, the court ordered Mayet to hand over all documents related to Ellemdin’s estate, including letters of executorship issued by the Master of the High Court.
The ruling also held Mayet and his firm jointly liable for paying back R2.52 million to the estate.
Court restricts access to law firm’s accounts
Banking giant FNB, which manages the firm’s trust account, was instructed to provide detailed bank statements for the period between April 2022 and November 2024.
The court also demanded statements from all accounts operated by Mayet and his law firm during that time.
Pending the outcome of the LPC’s investigation, Mayet has been barred from accessing his law firm’s bank accounts. Instead, control over these accounts has been placed in the hands of his former law firm partner.
Under the Legal Practice Act, a curator bonis can be appointed to manage a trust account if a legal practitioner becomes insolvent, is suspended, or is found incapable of managing their affairs.
This provision ensures that clients’ funds are protected in cases of misconduct.
Mayet defends his actions
In response to the allegations, Mayet claimed he invested the money in 2021 under Abdoola’s instructions in a company called Ultimate Heli.
According to IOL, he insisted that the investment was expected to generate high returns and that the estate would be fully compensated by June 30, 2025.
“The capital sum invested will yield anticipated returns that will more than cover the payment due to the beneficiary,” Mayet stated, adding that he personally holds a 26 percent stake in the company.
However, Ellemdin’s estate rejected Mayet’s defense, calling it fabricated. Abdoola denied giving him permission to invest the funds and dismissed his offer to repay by June 2025.
“Your offer to repay the funds by June 2025 and provide sureties for such are rejected. None of the undertakings you seek will be provided,” the estate said in a statement.
As the investigation continues, legal experts warn that if found guilty, Mayet could face severe consequences, including being struck off the roll of attorneys.
