The Financial Sector Conduct Authority has launched an investigation into CoCre8 Wealth (Pty) Ltd and its affiliated company, CoCre8 Gold (Pty) Ltd, following complaints from clients who allege they were misled into investing in schemes marketed as low-risk with guaranteed high returns.
Although CoCre8 Wealth is a licensed financial services provider (FSP 48408), CoCre8 Gold is not authorised to provide financial services. The FSCA’s investigation extends to individuals linked to the companies: George Fredrick Meyer, listed as the sole director and key individual of CoCre8 Wealth, and Jacques Vernon Fox and Susanna Johanna Meyer, both directors of CoCre8 Gold.
According to the FSCA, clients allege financial losses after being promised returns that were not delivered. The regulator is investigating whether any financial sector laws were breached, including section 7 of the Financial Advisory and Intermediary Services Act.
“The purpose of the investigation is to establish whether the investigated parties contravened any financial sector laws,” the FSCA said in a statement, adding that the probe is ongoing and no findings have been made at this stage. The Authority said it would provide updates as the investigation progresses.
In the meantime, some clients have launched liquidation proceedings against CoCre8 Gold and laid criminal charges against the individuals involved.
According to a notice published in the Government Gazette on 17 April 2025 (No. 52517), CoCre8 Gold was placed under provisional winding-up by order of the High Court in Pretoria. The order, handed down on 4 March 2025, called for all interested parties to appear on 22 April to provide reasons why a final winding-up order should not be granted.
The court further authorised a commission of inquiry into the affairs of CoCre8 Gold, granting leave to the applicants, Mile Investments 291 (Pty) Ltd and SSolace (Pty) Ltd, to investigate the company under sections 417 and 418 of the Companies Act, read with the transitional provisions of the Companies Act.
Judge Eberhardt Bertelsmann was appointed as the commissioner to lead the inquiry and report to the Master of the High Court. His mandate includes identifying witnesses, discovering assets or funds, and reporting any irregularities or potential transgressions to the National Prosecuting Authority or the FSCA for further action.
The court order also authorises the commissioner to summon individuals or entities to testify under oath, compel the presentation of documents that may reveal the financial affairs of CoCre8 Gold, and to treat the inquiry proceedings as confidential unless otherwise authorised.
The FSCA has urged the public to remain cautious. “To avoid unnecessary risk, the public should treat any offer of unrealistic returns or any claim of guaranteed returns with suspicion,” the Authority said.
Moonstone made several attempts to contact CoCre8 Wealth, but without success.
Cant this matter be taken to Cartebkanc asseell.People should be warned.Fredrick is very good at taking from people.