The The renowned financial institution Old Mutual finds itself in the midst of a storm of public backlash following accusations of defying a court order. The controversy erupted after a disgruntled client’s complaints gained viral traction, amassing over a million views on social media platform X.
Allegations and Viral Outcry
Sebabatso Molefi took to social media to share her mother’s alleged struggles with Old Mutual in the disbursement of her pension funds. In a series of posts, Molefi expressed frustration, stating, “Dear @OldMutualSA, please advise why you are refusing to release my mother’s money despite a court order. You are in contempt of court, and I am about to lose my cool right now.”
This post quickly gained traction, prompting numerous individuals to share their own negative experiences with Old Mutual, citing instances of non-payment and poor customer service.
Old Mutual’s Response
The company responded to the escalating situation, acknowledging the public outcry. In a statement to The Citizen, the company expressed commitment to finding a resolution and issued an apology for the way the matter was handled on social media.
The statement read, “Our reluctance to engage and debate on X stems from the complexities of the case and our desire and duty to protect the personal information of the individuals concerned. We are investigating ways to solve the problem and will be meeting with the family this week.”
Voices of Dissatisfaction
Various individuals shared their grievances, including Siya Ndlumbini, who claimed Old Mutual had been causing distress for seven years following his brother’s passing. Allegations of mistreatment towards clients and staff, including exorbitant fines, were also raised by former employees.
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Legal Perspectives and Consumer Advice
Nyembe Attorneys Incorporated director Atalia Nyembe suggested that clients facing such issues could refer the matter to the national consumer tribunal or the ombud with jurisdiction. She emphasized the importance of exploring internal relief measures and consulting attorneys before seeking court intervention.
As Grammy Award-winning musician Zakes Bantwini alleged a meager payout from Old Mutual, the controversy surrounding the company deepens, prompting calls for thorough investigations and accountability.
Many people on X are transferring their policies to other companies and advising others to do the same. Many radio stations have hopped on the story. Many callers who are not on social media are calling in, sharing stories about how unfairly they were treated by Old Mutual.