The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services business with Mr Roland Hadebe who is not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act).
The FSCA received information that Mr Hadebe uses social media to get investments from the public using Bitcoin. Upon receiving conformation from Mr Hadebe that the client made a profit they are then asked to pay a releasing fee of 20% of the profits made. After making the payment Mr Hadebe is unwilling to pay out the profit.
Members of the public should always check that an entity or individual is registered with the FSCA to provide Financial Advisory & Intermediary Services and what category of advice it is that the entity is registered to provide.
There are instances where persons are registered to provide basic advisory services for a low risk product and then offer services of a far more complex and risky nature.
The FSCA 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.