Johannesburg – A Port Elizabeth-based company that claimed to be a foreign exchange services provider and four of its representatives have been ordered to repay a retired teacher the R100 000 she invested with the firm.
Deo Volente Empowerment and Trading, which traded as Capital Builder Investments (CBI), and company representatives Paul Louis Louw, Johannes Theodorus Otto, Denton Dean Henning and Paul R Johnson were yesterday ordered by the Ombud for financial advisory and intermediary services (Fais) Noluntu Bam to repay Margaretha Delport the amount she invested.
Delport was introduced by a friend to CBI, where she met Lombard whom she knew from childhood.
Louw made a presentation to Delport about their product and persuaded her to invest with the promise of an expected “30 percent growth”.
The funds were paid to CBI on February 29, 2008, but in 2011 Delport was told there was less than US$5 (R72) left in her account and the rest of her money was lost.
Delport then filed a complaint with the office of the Fais Ombud.
She said Louw told her 80 percent of the funds would be deposited in the Bank of Scotland and this amount was guaranteed and “perfectly safe”…
Full Article: Ombud orders company to pay back R100 000 | IOL
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