The South African Police Service (Saps) and the senior public prosecutor have dismissed charges of fraud brought against Wes Bank and its CEO, Ghana Msibi.
Wes Bank, the vehicle finance division of First Rand, confirmed this on Wednesday.
The claimant, Emerald van Zyl, who describes himself as a financial investigating consultant", opened a case of fraud at the Bellville Police Station in Cape Town in July. He accused Wes Bank and its CEO of overcharging its clients on vehicle finance accounts based on incorrect interest calculations.
Lebogang Gaoaketse, head of marketing and communication at Wes Bank, said: **Following the investigation into the fraud charges filed by a Mr Van Zyl, the Saps and the prosecutor in the case have elected not to pursue any fraud charges against Wes Bank or Mr Msibi due to the absence of any reasonable evidence of any crime committed.,"
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