A dispute between Standard Bank and Dr Anele Mngadi Hammond has taken a turn, with the bank distancing itself from fraud allegations over a vehicle finance agreement.
Mngadi Hammond had accused the bank of fraud in a series of social media videos that have since gone viral.
She is claiming the matter began when she attempted to purchase a Ferrari outright using an international payment.
According to her, the bank returned the payment and insisted on processing the transaction locally.
She said she then entered into a sale agreement through her foundation, agreeing to pay in installments.
However, she alleges the situation deteriorated at the end of April 2015 when the bank debited the first installment and subsequently deducted more than agreed.
Concerns ignored by the bank
Mngadi Hammond claims her concerns were ignored for several months, prompting her to threaten to stop payments and cease using the vehicle, which allegedly led to the bank wanting to repossess it.
She said that when the bank approached the court, they had to attach the sales agreement, which she had been demanding, and she found that the dealer name had changed, along with the engine number, model year, and signature.
She claimed that her daughter, who was unemployed, allegedly signed the attached agreement with a fake employer.
The case was brought to court, and Mngadi Hammod stated that they waited, only to discover later that the bank had obtained a default judgment without her knowledge.
According to her, the sheriff had arrived with tow trucks to repossess the vehicle, but they never managed to take it.
In the video, she also made serious allegations about intimidation and violence linked to the dispute.
“We have all watched the Madlanga commission and the ad hoc committee, and we have seen how wealthy, powerful people behave.
“They wrong you, you sue, and they use their money to ruin you. If you persist, they order a hit; they kill you.
“This is precisely how Standard Bank treated me. Imagine as a black widowed woman, with your daughter, you are attacked by nine thugs with AK-47s in your home.
“They beat you up to a pulp, shove an AK-47 between your legs, and say: ‘In 24 hours, you go and retract the fraud case against Standard Bank’,” said Mngadi Hammond.
Claims are ‘false and baseless’
Kabelo Makeke, Standard Bank head of personal and private banking, rejected these claims, describing them as “false and baseless”.
He said the matter was concluded in 2018 and involved a valid and enforceable financing agreement.
Makeke said the bank operates under strict legal and ethical standards, denying any wrongdoing.
He maintained that the client ultimately agreed to settle the debt after engagements and that the vehicle was not repossessed.
Makeke also rejected claims of intimidation or violence, saying neither it nor its representatives were involved in any such actions.
“At no point did Standard Bank or its representatives perform any acts of violence or intimidation toward Dr Hammond or any of her family members.
“While we respect the rights of the individual to express their views against our business, practices and processes, it is regrettable and irresponsible for Dr Hammond to publish false information,” said Makeke.
On the legal front, he said Mngadi Hammond, her daughter, and a trust filed a summons in 2020 against the bank and its CEO, Sim Tshabalala, but argued that the case has not progressed in over five years and that many of the allegations now being made publicly were not included in those court papers.
“Standard Bank refutes any claims of conceding in court regarding the perpetration of fraud. This too was not alleged by Dr Hammond, her daughter, or the trust in the 2020 summons.”
