Some of the closed bank accounts of Sekunjalo entities lay dormant for years or had not been used at all, the Competition Tribunal heard on Tuesday.
Sasfin Bank said some Sekunjalo-linked companies never used the accounts they opened because they never complied with the Financial Intelligence Centre Act (FICA) requirements from the get-go.
Sekunjalo had dragged nine banks before the Competition Tribunal, hoping to compel them to reopen bank accounts of its entities and prevent further closures.