Internationally renowned motivational speaker Vusi Thembekwayo is being accused by a KwaZulu-Natal medical doctor of “vanishing” with his R400 000.
Thembekwayo, who reportedly owns assets worth hundreds of millions of rands, is squaring off with the medico, Jehron Pillay, in the high court in Johannesburg, after the latter accused him of failing to pay back more than R394 000 of the half-a-million he loaned him.
In court papers which we have seen, Pillay said he entered into an agreement to loan Thembekwayo R500 000 in July 2021.
Thembekwayo, he said, was expected to repay the money in two months without interests. Pillay said he transferred the funds into Thembekwayo’s account on July 23.
The businessman was supposed to have paid the money to Pillay on September 24 2021, but instead sent him from pillar to post.
“The defendant is as a result in breach of his obligations in terms of the aforementioned agreement in that he failed to and/or refused to perform by making payment of the full amount of R500 000 into the plaintiff’s nominated account on or before the 24th of September 2021,” read the papers.
Pillay said his lawyers sent Thembekwayo a letter of demand on July 26 2022 to pay the funds by no later than July 31.
After receiving a letter of demand, Pillay said Thembekwayo, who was represented by Suzette Marx of Marx Attorneys, entered into a new loan repayment agreement with him at a meeting in Johannesburg on August 15 2022.
In the new agreement, Thembekwayo, who is divorcing the mother of his children Palesa Mahlolo after being married in community of property for several years, undertook to pay back the loan in equal instalments of more than R52 000 over 10 months.
The first instalment, added Pillay, was supposed to have been paid on September 1 with the last settled on June 1 2023.
In addition, said Pillay, Thembekwayo undertook to pay 5% collection commission capped at R1 000 per month.
“Should the debt not be paid as aforesaid, for any reason whatsoever, the full balance outstanding will immediately become due, owing and payable without further notice to the defendant,” read the papers.
Pillay also said he sent an acknowledgement of debt to Thembekwayo’s attorney on August 22 last year.
Thembekwayo removed his name from the agreement as a principal debtor and replaced it with the name of his company, GrowthFund Ekhukhanya, signed it and sent it to Pillay on September 2.
Afterwards, said Pillay, Thembekwayo paid over R52 000 into his account on September 3. After receiving the payment, he immediately informed Thembekwayo’s lawyers on September 5 that he had incorrectly changed the details of the debtor.
The lawyers, said Pillay, replied and said Thembekwayo had requested that his company, and not him, to be the principal debtor as reflected in their second agreement.
He said Thembekwayo disappeared after making a second payment on October 10 2022.
“The defendant’s attorney of record was informed on both November 2 2022 and December 5 2022 that no further payments had been made by the defendant.
“As a result of the defendant’s failure or refusal to make the aforesaid monthly instalment payments, the full balance outstanding is immediately due, owing and payable to the plaintiff on the amount of R394 413.62, which amount is the outstanding principal debt,” read the papers.
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