An 82-year-old former senior partner at Fluxmans Incorporated has been sentenced to an effective 10 years’ direct imprisonment for stealing about R39.8 million from an escrow account and laundering the proceeds.
Solomon Slom (pictured) was convicted on all 290 charges against him – 145 counts of theft and 145 counts of money laundering – in the Specialised Commercial Crimes Court sitting in Palm Ridge, the National Prosecuting Authority (NPA) said on 9 July 2026.
The Court sentenced him to 10 years’ imprisonment for the theft convictions and a further 10 years for the money laundering convictions. The sentences will run concurrently, resulting in an effective 10-year prison term.
According to the NPA, Fluxmans acted as an escrow agent in 2018 under a subscription agreement and an escrow agreement concluded between several parties. An amount of R45 million was deposited into an account administered by the law firm pending the fulfilment of specified contractual conditions.
A dispute subsequently arose between the contracting parties, which meant the money had to remain in the escrow account until the dispute was resolved.
The NPA said investigations established that about R39.8m was removed from the account through 145 fraudulent transactions authorised by Slom.
Fraudulent payment requisitions were used to direct the money into a bank account that had no connection to any of the parties to the escrow agreement. Slom held power of attorney over the recipient account.
According to the NPA, the evidence showed that Slom used the money for his personal benefit, causing the complainant financial prejudice of about R39.8m.
The Star reported that a case was registered at the Rosebank police station in February 2024 and assigned to the Hawks’ Serious Commercial Crime Investigation unit. Citing Hawks spokesperson Captain Lloyd Ramovha, the publication reported that Slom was arrested in August that year. He was granted R50 000 bail after appearing in the Palm Ridge Specialised Commercial Crimes Court.
News24 reported in 2024 that Slom had been with Fluxmans for 24 years and had resigned as a director of the firm.
At the time of his arrest, the allegations against Slom had not been proved. His subsequent conviction resulted in findings of guilt on all 290 counts.
The NPA said Senior State Advocate Pretty Mabunda proved that Slom had unlawfully appropriated funds entrusted to him in his professional capacity and concealed the proceeds through a series of fraudulent transactions.
