Write and Publish Your Opinion, Sporting or Local News on MyZA: CLICK HERE to Proceed

MyZA

News, Directory, Events and Other Stuff

You are here: Home / News / Warning: Persons Impersonating Sterling Private Wealth (Pty) Ltd

Warning: Persons Impersonating Sterling Private Wealth (Pty) Ltd

The Financial Sector Conduct Authority (FSCA) advises the public to exercise caution when engaging with individuals on Telegram who are impersonating Sterling Private Wealth (Pty) Ltd (Sterling) and its director Mr Graydon Morris (Mr Morris). Sterling is an authorised financial services provider (FSP) with FSP number 32319,

The FSCA has been made aware that administrators of Telegram groups (Leadership Graydon Morris and Sterling Private Wealth) are falsely claiming to be associated with Sterling and Mr Morris. The administrators of the groups are using the details of Sterling and the persona of Mr. Morris to promote investments in Bitcoin. Members of the Telegram groups are promised unrealistic returns, an investment of R10 000 can yield a return of R100 000 within a short period of time.

Without commenting on the business of the impersonators, the FSCA points out that offering financial products and services in South Africa requires its authorisation. The administrators of the Telegram groups are not authorised in terms of any financial sector law to provide financial services. Sterling Wealth has confirmed that it and Mr. Morris are not affiliated with the Telegram group, its activities and those associated with it. The administrators of the Telegram group failed to respond to FSCA enquiries.

The public is urged to act with care when investing their funds. There are many fraudsters operating scams, and the number is growing. South Africans lose millions of rands every year to fraudsters. Illegal operations are sometimes well-disguised as legitimate operations. The public is advised to be on the lookout for certain tell-tale danger signs when approached by persons offering attractive investment opportunities.

Category: Tag: ,

If you feel strongly about this article then feel free to send MyZA a ‘Letter to the Editor’ using the submission form below:

Letter to the Editor

This field is for validation purposes and should be left unchanged.
If this is in response to an article please include that article title here or as the lead in for the first paragraph of your Letter below.

Separate tags with commas

Localise your letter by naming the city your words are about. Add relevant words describing your subject. Single comma separated words of no more than 5
Your Name(Required)
Your Name will be linked to the website below.
Your personal, business or social media web site
Choose NO to not set up a user account on MyZA. User Accounts will allow you to submit letters under your own Author Name

3 Latest Letters to the Editor:

  • December Grants Land 2-4 December – Plan the Long January Gap

    Dear Editor, December grants land early in the month — Older Persons on Wednesday 2 December, Disability on Thursday 3 December, and Children’s grants on Friday 4 December. That is good news for festive shopping, but it makes January the longest month of the year, and January is when school uniforms, stationery and transport money…

  • Foster Parents May Qualify for the R1,290 Foster Child Grant

    Dear Editor, I run SAGrant (sagrant.co.za), a free resource helping South Africans navigate SASSA grants. Many South Africans raising a foster child do not know the Foster Child Grant exists. It pays R1,290 a month — more than double the R580 Child Support Grant — and it is for children placed in your care by…

  • Name of sexual offender?

    Dear Editor 653 Years Imprisonment for 119 Counts of Sexual Offences Against Children Why is this person being protected by anonymity? He has been convicted and sentenced, so please release his identity. Regards LA Morton In Response to/From: 653 Years Imprisonment for 119 Counts of Sexual Offences Against Children

Reader Interactions

Comments

  1. Fun South African Fact: South Africa is an amazing destination that excites travellers from all walks of life and from all over the globe. Whether you are travelling with family or friends, are senior travellers or are a solo adventurer, why not plan your very own South African adventure? Take a look at our South Africa tours and get ready to experience the highlights of this magnificent country!

  2. Fun South African Fact: The meandering 850km road through Cape Winelands is the world’s longest wine route.