In another twist involving the public protector’s office‚ the Minister of Co-operative Governance an.
If you are thinking of doing business with Blue Pointer and its boss Lodewyk Petrus Baartman, don't.
Investigations by the Financial Services Board revealed that Blue Pointer is an unlicensed financial services provider so, in terms of the Financial Advisory and Intermediary Services Act, it is not allowed to give advice and intermediary services by selling Propdotcom (PDC) Property Consortium shares.
"We found that operations of Blue Pointer and PDC were managed by Baartman as one enterprise.
It resulted in PDC client funds being used to fund Blue Pointer's operations," says Gerry Anderson, FSB's deputy executive officer.