FSCA warns the public against Sisa Cwabisa and Thandeka Magudulela

September 26, 2018

The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Sisa Cwabisa and Thandeka Magudulela; they purport to be financial services providers.


The FSCA received information that Sisa Cwabisa and Thandeka Magudulela are using Stone Wealth Management (PTY) LTD’s FSP number 29494 to run a scam; where they guarantee exceptional returns on small investments and they are using an old promotional video via WhatsApp that was used by Stone Wealth Management (PTY) LTD over 4 years ago. Sisa Cwabisa is an intern at Stone Wealth Management (PTY) LTD and Thandeka Magudulela holds a position that would not empower her to either assist with or initiate the misrepresentation.


The FSCA also warns financial customers about unrealistic returns and again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA on either the toll free number (0800 110 443) or on the website www.fsca.co.za as to whether or not such institution or person is authorised to render financial services.


ENDS

 


Enquiries:

Ms Nokuthula Mtungwa
Financial Sector Conduct Authority
Email address: Nokuthula.Mtungwa@fsca.co.za
Telephone: 012 422 2919

 

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