Fast little loans
The legal teams of financial adviser Deeb Risk and financial advice ombud Noluntu Bam have squared up in the High Court in a battle royal that may have far-reaching implications for your ability to obtain compensation for bad financial advice. Bam has issued several determinations against Risk and his company, forcing them to pay back millions of rands to people, mainly pensioners, who invested in property syndication schemes that went belly-up. But Risk says the ombud does not have the legal standing to hear the investors’ complaints. Read Personal Finance to find out what’s at stake in the Risk versus Bam court fight.
Also in our weekend print edition:
* Shooting of hedge fund managers opens a can of worms.
* Watch out for personal loans that seem generous – you could find yourself even deeper in debt.
* Without a financial plan, you’re likely to fall for a scam.
Personal Finance is published every Saturday in the Pretoria News Weekend, the Saturday Star, The Independent on Saturday and the Weekend Argus.