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30 JULY TO 25 AUGUST, 2020
Breaking the echo chamber in the city bowl and beyond.
Can of worms
A defamation case in the High Court airs allegations of fraud in big banks and Africa’s biggest law firm
Steve Kretzmann Startling allegations of fraudulent and criminal activity by Nedbank and Investec, seemingly aided by top lawyers at Ernest Nathan Sonnenbergs (ENS), have emerged in a defamation case playing out in the Western Cape High Court.
Evidence in the seemingly simple case of defamation against Noseweek editor Martin Welz and his publishing company Chaucer Publications by ENS director Leonard Katz spans decades as it unravels stories of people being financially ruined by liquidations instituted by ENS on behalf of big banks. Testimony in the ongoing case tracks money across the globe, from Zimbabwe and
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South Africa to the Channel Islands to the British Virgin Islands and back again as the case delves into allegations of fraudulent litigation, illegal phone-tapping, and the removal and alteration of court records as the banks appeared to benefit from liquidating their own clients.
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David faces his own Goliath Welz, who established the investigative monthly publication Noseweek 27 years ago, is being sued by Katz, who is a director at ENS - purportedly the largest law firm in Africa - and is the national head of the law firm’s insolvency and business rescue division.
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