EDITORIAL | The law applies to everyone, even the aged

The recent sentencing of an 82-year-old former attorney to 10 years’ imprisonment for stealing and laundering nearly R40m from an escrow account should serve as a reminder that the law applies to everyone, regardless of age, status or career achievement.

The Johannesburg specialised commercial crimes court, sitting in Palm Ridge, convicted Solomon Slom, a former senior partner at Fluxmans Incorporated, on 145 counts of theft and 145 counts of money laundering.

The charges stemmed from the misappropriation of about R39.8m from an escrow account entrusted to Slom in his professional capacity. The court heard that in 2018, Fluxmans acted as the escrow agent under a subscription and escrow agreement concluded between several parties.

About R45m was deposited into the escrow account pending the fulfilment of specific contractual conditions. After a dispute between the contracting parties, the funds were required to remain in the escrow account until the dispute had been resolved. However, investigations later revealed that about R39.8m had been unlawfully removed from the account through 145 fraudulent transactions authorised by Slom.

By stealing R40m from an escrow account through 145 unauthorised transactions, Slom did not merely commit a financial crime, he undermined the very integrity of the legal profession he was sworn to uphold.

When a lawyer who is entrusted with the management of funds abuses that position to enrich himself, the impact is profound. It erodes public confidence in legal practices.

Some may argue that imposing a lengthy sentence on an elderly man is a harsh penalty. However, sentencing seeks to balance the gravity of the crime with the rights of the victim, the protection of society and the potential for the offender’s rehabilitation.

When a lawyer who is entrusted with the management of funds abuses that position to enrich himself, the impact is profound. It erodes public confidence in legal practices.

If the courts were to show leniency simply because of Slom’s age, it would create a dangerous precedent: that individuals can spend their golden years engaged in corruption with a “get-out-of-jail-free” card waiting for them.

There are others who are at an advanced age whose cases are slowly going through the slow wheels of justice. This sentence sends a clear message to everyone, that old age or retirement is not a licence to break the law and white-collar crime will not be overlooked.

The National Prosecuting Authority should be applauded for securing this conviction and sentence, which demonstrates that individuals entrusted with safeguarding the financial interests of others will be held accountable when they abuse that trust.

This prosecution will also hopefully deter other crooked lawyers that perpetrators of financial crimes will face the full might of the law and also show that accountability remains the cornerstone of our society.