The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services with Destinata 104 (Pty) Ltd and Wealth Solutions Investments & Development Partners.
The said entities are soliciting funds from members of the public by offering investments opportunities in the student accommodation sector. They promise a total net return of 230% on the investment.
The purported reasons for their high returns are based on inter alia the following:
• Old Mutual Guarantee in place against a portion of the project (1bn) Financial Guarantee to Goldman Sachs.
• Old Mutual further provides collateral in the form of government bonds against the project (1bn) over and above the financial guarantee.