The Financial Services Board (FSB) has issued a warning to the public to "exercise caution when dealing with an entity styling itself Platinum Investments. Moneyweb reported on Platinum Investments' share offer this week. Moneyweb noted the company lacked the necessary credentials and refused to answer important questions about the returns they offered investors.
Platinum Investment Scheme is using the internet to solicit investments. They offer potential investors two options with returns of between 100 to 200% within 2 days the other option is the purchase of shares in a company who they say will be listed on the JSE in the next few weeks.
"In terms of both options investors are requested to make payments into a bank account held in the name of Makaza Auto Traders CC. The licence of Makaza Auto Traders CC, previously an authorised financial services provider, was withdrawn on 9 July 2009. Platinum Investments is neither an authorised financial services provider nor a representative of an authorised financial services provider as it license has been withdrawn, the question that comes to my mind is how it got a license in the first place?
