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FSCA flags MyWealth Legatus
The Authority warns the public to exercise caution with MyWealth Legatus, just three months after imposing R73 million in penalties on two of its affiliate companies.
Clients whose financial habits have been moulded by sound advice over many years are unlikely to act irresponsibly now, says Fairbairn’s Guy Holwill.
Read moreThe Authority warns the public to exercise caution with MyWealth Legatus, just three months after imposing R73 million in penalties on two of its affiliate companies.
Investors were promised returns of up to 400%, but there was no legitimate financial product or investment activity, the FSCA says.
Coenraad Botha and his wife are facing 64 charges in Namibia related to an alleged illegal investment scheme involving N$163 million.
A provisional sequestration order for the estate of Classic Financial Services director Jacobus Geldenhuis has been granted.