via Deliver or we report to police, school tells AfrAsia Bank | The Herald 16 December 2014 by George Maponga
An elite Masvingo school, Kyle Preparatory School, has demanded that troubled AfrAsia Bank transfer nearly US$4 000 and about R60 000 into its account with another local bank or risk being reported to the police for fraud. The demand comes after the troubled financial institution failed to effect a bank transfer to BancABC despite an application by the school in October.
Kyle Preparatory School is alleging that the BancABC account has not yet been credited nearly two months after transferring funds from AfrAsia Masvingo branch account.
The school has since written a letter of demand to the financial institution, threatening to press fraud charges unless the transfer is effected, together with interest.
In a letter by the school’s lawyers Saratoga Makausi Law Chambers, dated December 5, Kyle School is alleging that AfrAsia was supposed to effect the transfer within 48 hours after receiving the school’s application, but nothing was done.
The school alleged that several meetings with the AfrAsia Masvingo Branch manager to have the transfer effected proved futile.
“However, despite the lapse of over 48-hours, our client’s BancABC account does not reflect receipt of the said amounts,” reads part of the letter from Saratoga Makausi Law Chambers to AfrAsia Bank.
“It is now almost two months since that transfer was made and the bank is still failing, refusing or neglecting to release this amount without reasonable or just cause. Our client has had several meetings with the bank manager with a view to finding a solution to the matter.
“The bank manager confirms that indeed nothing has been done on the part of the bank to ensure that our client receives the said amounts. This clearly is fraudulent as our client does not have its money.
“If the amount is not paid in full, our client reserves the right to report the fraud to police for criminal prosecution for fraud and also to sue the bank for other damages arising from the failure to release the funds.”
AfrAsia Bank has been affected by financial problems, with depositors struggling to access their funds.
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