Be warned! Lungile Nzuza of Peer Investment in Embalenhle, Secunda, is apparently running a fly-by-night investment scheme.
Nzuza is not registered with the Financial Sector Conduct Authority, formerly known as the Financial
Services Board, or the JSE as she claims.
Investors paid between R2000 and R200000 and about 40 other people have invested more than R1-million in the investment company.
Phumzile Tshabalala, 60, of Allen Manor in Meyersdale, raised the alarm and alerted Consumer Line to this scam in May when Nzuza told her she would not be paid her interest because the pensioner owed the SA Revenue Service (SARS). "I was shocked when she said the Johannesburg Stock Exchange [JSE] has withheld payment as they have discovered that I owed SARS," said Tshabalala.
Tshabalala's enquiry at SARS proved Nzuza's story to be a lie, and that this is what she had telling the other investors.
Patience Gabela wanted to raise money to fund her daughter's internship abroad later this year when she came across Nzuza's investment company. She immediately got hooked and became another victim of of the scam.
"I also wanted to learn how to trade. Nzuza told me to cash all my money before I could register. She also said the JSE had my details and would not allow me to trade on my own," Gabela said.
Tutu Zwane said her individual investment and that of 10 people she had recruited to join amounted to R80000.
Watch out for fake investment scheme
Be warned! Lungile Nzuza of Peer Investment in Embalenhle, Secunda, is apparently running a fly-by-night investment scheme.
Nzuza is not registered with the Financial Sector Conduct Authority, formerly known as the Financial
Services Board, or the JSE as she claims.
Investors paid between R2000 and R200000 and about 40 other people have invested more than R1-million in the investment company.
Phumzile Tshabalala, 60, of Allen Manor in Meyersdale, raised the alarm and alerted Consumer Line to this scam in May when Nzuza told her she would not be paid her interest because the pensioner owed the SA Revenue Service (SARS). "I was shocked when she said the Johannesburg Stock Exchange [JSE] has withheld payment as they have discovered that I owed SARS," said Tshabalala.
Tshabalala's enquiry at SARS proved Nzuza's story to be a lie, and that this is what she had telling the other investors.
Patience Gabela wanted to raise money to fund her daughter's internship abroad later this year when she came across Nzuza's investment company. She immediately got hooked and became another victim of of the scam.
"I also wanted to learn how to trade. Nzuza told me to cash all my money before I could register. She also said the JSE had my details and would not allow me to trade on my own," Gabela said.
Tutu Zwane said her individual investment and that of 10 people she had recruited to join amounted to R80000.
Zwane said: "We were [supposed] to get paid on the June 28 when Nzuza rudely told me she has cancelled our investments. She said we will not be paid and that 'it's not open for discussion',"
Pensioner Lindiwe Maphanga, 60, and her group were also told they would not get their payout because Tshabalala had blown the whistle.
Nzuza refused to comment, telling Consumer Line to go ahead and publish the story. Pressed for comment she said: "I thought you were busy publishing the story; I'm waiting for my copy [of the newspaper]. Stop with the threats and stop harassing me."
Media and internal communications manager at JSE, Phelisa Mayekiso, said Nzuza was not on the list of their approved stockbrokers and has no affiliation to the JSE. Jabhile Mbele of the Financial Sector Conduct Authority could not find Peer Investment in their records.
The commercial crime unit of SAPS is investigating.