In the statement, the court faulted the claims made by the bank that the funds were proceeds of trade in the country and that the nominated spouse has no legal authority under south african laws to claim the funds as that would be considered a violation against the country's financial laws if the funds were allowed to be transferred outside the country.
Relying on documentation presented by representative of the beneficiary, Mr. Stanley Nomvalo, the court reiterated that the funds were not proceeds of trade,also the estates were originally inherited by Veronica from her late South African parents. She however, placed Koichi Ogino (spouse), as next of kin to inherit her belongings.
Following this development, the bank has therefore issued a demand of immediate compliance to the South African Revenue Service for all relevant inheritance related to the family to be transferred to the beneficiary, Mr. Koichi Ogino within 7 days after which the bank will have the statutory rights to confiscate the funds based on non-compliance
The affected foriegn nationals as listed on the directive Include:
1. Tom Verghensten (Netherlands)
2. Koji Maeda, Senior vice president Fusion institute global (Japan) and the Chairman/Director Osamu Kinoshita
3. Betty Sanders (United Kingdom)
4. Emily Rustenfed (Netherlands)
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