THE IMPLICATED PARTIES REPLY
The law society’s senior disciplinary secretary Marisca Jacobs said the fees assessment process began on Thursday. Depending on the outcome “a disciplinary inquiry may be held and an inspection of the accounting records may have to be conducted”.
Zwane said his firm carried out all the fund’s instructions, in accordance with the resolutions of its board of trustees.
While the firm was waiting to hear from the law society, Zwane said the pension fund’s complaint was “without merit”.
Isago’s executive director Martin Khunou said the fund approached them with an interest to purchase pieces of land in their development. “The transaction was executed legally through agreed and duly signed contracts.” He said he expected the law society to give his company an opportunity to respond.
Masala Ramabulana, former owner of the nowdefunct Ramabulana Management Services, said his firm was not accountable to the law society and faced no complaint against it. He said they provided services to MSMM in the past and were under obligation not to disclose any confidential information. This was according to the SA Institute of Chartered Accountants’ code of conduct and the engagement letter they signed with all clients, he said.
Ntumba said his accounting firm provided various services to Isago, but never issued invoices to either the law firm or the pension fund.
He said they were unaware of any other payments from the fund relating to other services rendered at Isago.
“Ntumba understands that Isago pays all its creditors and suppliers from its pool of funds; and that it may make use of any attorney to transfer such funds.”
Of THL Investments, he said that company did not render any services to either the law firm or the pension fund. “Any questions which relate to this entity are irrelevant to the above-mentioned complaint.”
Of TLSZ he said the company “rendered services” to the law firm, and kept all its business matters and information confidential, in line with agreements it signed with all its clients.