FSCA warns the public against four entities

The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Financial Group House Direct (Pty) Ltd (FGHD) in Kempton Park, Gauteng. Their company registration number is 2017/496837/07; their main focus is freight investment, industrial investment, property investment and forex trading. The entity is not authorised in terms of the Financial Advisory and Intermediary Services Act 37 of 2002 (the FAIS Act), to render any financial advice and intermediary services. According to the information received, FGHD is offering investment to members of the public with the promise that if they invest R500.00, it will accumulate to R17 006.00 in six months.

Secondly, the FSCA warns the public to act with caution when dealing with NGR Trading and Mr Eskie Lerocks. According to the information received, NGR Trading, and Mr Eskie Lerocks, purports to be a financial services provider (FSP), financial advisor, wealth manager and Forex mentor on their Instagram account, which is related to the following website: www.newgenforex.com/. NGR Trading is not an authorised FSP in terms of the FAIS Act. Mr Eskie Lerocks is neither a key individual nor representative of any authorised FSP, and is not authorised to render any financial advice and or intermediary services related to a financial product.

Thirdly, the FSCA warns the public to act with caution when dealing with CKM Trading Solutions. CKM Trading Solutions is not authorised in terms of the FAIS Act to render any financial advice and intermediary services. CKM Trading Solutions is fraudulently using FSP number 41393, which belongs to IG Markets South Africa Limited. IG Markets South Africa Limited has confirmed that no relationship exists between them and CKM Trading Solutions.

According to the information received, there is a company named CKM Trading Solutions which purports to be a registered FSP. CKM Trading Solutions is owned by Mr Bellingham Booysen. Mr Booysen opens accounts on behalf of people with the Johannesburg Stock Exchange (JSE) without their consent. It is the FSCA’s view that the above-mentioned entity is conducting unregistered business and providing advisory and intermediary services without the necessary authorisation.

Finally, FSCA warns the public to act with caution when dealing with Express Cash Investments (Pty) Ltd. According to the information received, Express Cash Investments (Pty) Ltd advertises a 'double your money investment opportunity' on Facebook and is collecting money from members of the public with a promise of a substantial return on investment. Express Cash Investments (Pty) Ltd is publicly using the following FSP authorisation details: FSP number 45799, which belongs to an authorised FSP, namely Express Wealth Financial Solutions (Pty) Ltd.

Express Wealth Financial Solutions (Pty) Ltd has confirmed with the FSCA that it has neither an association nor dealings with Express Cash Investments (Pty) Ltd, in any manner or form. Express Cash Investments (Pty) Ltd is not authorised in terms of the FAIS Act to render any financial advice and intermediary services.