The Financial Sector Conduct Authority has warned the public to be cautious when dealing with Telegram groups impersonating Prime Investments, Fairtree Asset Management, and PWM Wealth Management.
In separate statements issued on 20 May 2026, the Authority said the groups are using the firms’ names and branding to solicit funds or promote trading-related services.
In the Prime Investments case, the FSCA said administrators of a Telegram group are using the company’s name, branding, and staff photographs to promote Bitcoin mining, binary options trading, and account management.
The Prime Investments is a brand grouping for Prime Fund Services (Pty) Ltd (FSP No. 42255), Prime Product Services (Pty) Ltd (FSP No. 43521), and Prime Capital Markets (Pty) Ltd (FSP No. 53796).
Prime Investments is not associated with the administrators of the group. The FSCA said the administrators are not authorised to provide financial services to the public.
Another Telegram group operating under the name “Fairtree Capital Ltd” is using Fairtree’s name, branding, and the details of chief executive Kobus Nel to solicit funds from the public.
Fairtree Asset Management (FSP No. 25917) confirmed that neither it nor its CEO are linked to the group.
The FSCA said the administrators, who are not authorised to provide financial services to the public, failed to respond to its enquiries.
In the PWM Wealth Management alert, the FSCA said a Telegram group is using the firm’s name and logo to promote trading strategies.
PWM Wealth Management (FSP No. 51323) is not associated with the group, and the regulator said it was unable to contact the administrators using the details available to it.
The FSCA urged the public to exercise caution when considering unsolicited investment or trading offers, particularly those made on social media.
It pointed to common warning signs such as unrealistic returns, upfront payments, requests for more money before funds are released, pressure to act urgently, and vague information about the product.
The regulator also reminded the public to verify whether a person or institution is authorised, and to report suspicious activity through its hotline or online channels.
To check whether a person or business is authorised by the FSCA to operate as a financial services provider – and to verify their FSP number – the public can:
- Call the FSCA’s toll-free line: 0800 110 443
- Click here to search FSPs authorised under the FAIS Act.
