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Fana Hlongwane sues Absa for closing his accounts

9 January 2017 1:17 PM
Former arms deal consultant and businessman Fana Hlongwane wants Absa to pay him R7 million for closing his accounts in 2013.

Former arms deal consultant and businessman Fana Hlongwane wants Absa bank to pay him R7 million for closing his accounts after deciding that he was 'a politically exposed person' in 2013.

Hlongwane says Absa violated his constitutional rights.

Absa's decision was implemented following the tighter banking regulations in the Financial Intelligence Centre Amendment Bill - a bill which has not yet been signed by President Jacob Zuma.

Business Day deputy editor, Carol Paton, says there seems to be a relationship between the controversial Gupta family and Hlongwane.

It does seem he wants to make a point and either force Absa to say why they closed his accounts.

Carol Paton, Business Day deputy editor

Or he wants to what know information exactly Absa has on him.

Carol Paton, Business Day deputy editor

Listen to the full interview below for more information...


This article first appeared on 702 : Fana Hlongwane sues Absa for closing his accounts


9 January 2017 1:17 PM