14 September 2021 – LRC restores home ownership to another victim of the Brusson Finance Scheme

14 September 2021

LRC restores home ownership to another victim of the Brusson Finance Scheme

PRETORIA — The Legal Resources Centre represented Mr. Joel Letsepe Mongalo in the Pretoria High Court this morning, in an application to restore ownership of his property lost as a result of the fraudulent Brusson Scheme.

Mr. Mongalo fell victim to the Brusson Finance Scheme in 2007. The scheme was declared illegal by the Free State High Court in 2010. In the judgment of ABSA v Moore in 2015, and later confirmed by the Constitutional Court in Absa v Moore and Another in 2016, the courts found that the above scheme was unlawful, of no force or effect and subsequently set aside. The Brusson victims in that case, the Moores, were declared owners of their property and the mortgage bond in the name of the investor was set aside. The law is therefore clear, and we have been using the Moore judgment to achieve the same outcome for the rest of our clients.

We therefore approached the Pretoria High Court to seek an order to have the Pretoria Deeds office, named as the third respondent in this matter, to restore title over our client’s property, and cancel effectively all the transfers that had occurred as a result of this scheme in terms of section 6(1) of the Deeds Registries Act No 47 of 1937.

The court agreed with us and accordingly, an order was granted as prayed for by our clients. We welcome this decision by the High Court.

[ENDS]

 

Issued by the Legal Resources Centre

Media Enquiries:

Cell: 068 584 2442 / Email: thabo@lrc.org.za