The High Court has issued an order freezing the bank accounts of missing businessman Ncediso Dlamini following an urgent ex parte application filed by two of his business associates.
The applicants alleged that Dlamini vanished after collecting hundreds of thousands of Emalangeni for business investments. They said they now fear he might be allegedly using the money while on the run. The application, filed by Mlungisi and Welile Dlamini, was heard by Judge Zonke Magagula and moved through attorney Wandile Maseko of Maseko Tsambokhulu Attorneys.
The applicants requested the urgent freezing of Ncediso’s First National Bank (FNB) cheque account and for FNB to provide a report on any other accounts belonging to Ncediso or the five companies he is associated with.
These included Gasoni.com Investments (Pty) Ltd, Snesa Investments (Pty) Ltd, Meetse Investments (Pty) Ltd, Usaho Associations, and Mzidia Investments (Pty) Ltd.
According to the court papers, the applicants first discovered that Ncediso was missing on July 16. According to the affidavit by Mlungisi, the two applicants were lured into investing with Ncediso after he presented himself as a businessman involved in bulk vegetable supplies, A4 paper orders, and cleaning materials. The two investors were initially reluctant, but eventually agreed to partner with him and even registered their own company, Maxvolume (Pty) Ltd, with plans to use it formally in the future.
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Pending finalisation of that company’s operations, they agreed to temporarily use Ncediso’s existing group of companies. Mlungisi said he invested a total of E183 700, through various payments directed to suppliers and directly to Ncediso’s local and South African accounts.
Welile invested an additional E228 000, bringing the total investments to E367 335.The court was informed that partial payments were made back to the investors. Mlungisi submitted that he received E19 365 and Welile received E25 000, but the rest of the funds were never returned.
“When we questioned the delays, the first respondent informed us that the police fraud department at Mbabane Police Station was conducting investigations into his accounts, allegedly used as a conduit by individuals suspected of money laundering,” Mlungisi claimed.
Police report Ncediso missing, business partners open case
The Royal Eswatini Police Service issued a missing person alert on July 10, confirming that Ncediso Dlamini had vanished on July 1.
He was last seen at his parental homestead at LaMgabhi (Bhunya) and has not been found since.
The applicants revealed that following the disappearance, they opened a criminal case against Ncediso at the Mbabane Police Station.
“The first respondent’s actions of taking our monies were wrongful, fraudulent, and financially prejudicial,” the applicants claimed in the affidavit. The High Court was also informed that Ncediso’s companies could not be physically located and seemed to exist only on paper. With the primary respondent reported missing and formal investigations underway, the applicants asked for immediate judicial intervention to prevent further loss.
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