FSCA warns the public to act with caution against person/ persons purporting to be Stone Wealth Management’s agent.

October 1, 2018

The FSCA received information that unknown person/persons are unlawfully using Stone Wealth Management (FSP 29494)’s Financial Services Provider number purporting to be Stone Wealth Management agents on the website 

https://stonewealth1manage.wixsite.com/mysite and WhatsApp group.

 

These so-called agents are allegedly running a scam where they guarantee exceptional returns on small investments using an old promotional video used by Stone Wealth Management (PTY) LTD over 4 years ago. In their messages, they identify Sisa Cwabisa and Thandeka Magudulela as people who are involved in the business advertised on the WhatsApp group. We wish to state that Both Sisa Cwabisa and Thandeka Magudulela are employed at Stone Wealth Management and have no connections with the said investment scam.

 

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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