FSCA warns public to avoid WhatsApp 'investment adviser'

The Financial Sector Conduct Authority (FSCA) has warned members of the public to be vigilant and distance themselves from a charlatan soliciting investors’ money in WhatsApp groups.

According to the FSCA, BS Sokhela is duping members of the public into paying money into a bank account under the pretence that he represents AnBro Capital Investments. As part of his modus operandi, he is falsely claiming to be associated with AnBro, while promising the money will be invested.

AnBro Capital Investments is an authorised financial services provider (FSP) with the FSP number 48371. AnBro has confirmed to the FSCA that no connection exists between it and Sokhela.

In a statement released to the public to warn them to stay away from Sokhela, the FSCA said: “It is the FSCA’s view that the Mr Sokhela is conducting unregistered business and providing advisory and intermediary services without the necessary authorisation.”

It is imperative that if you want to conduct financial services with any institution or person that you always check with the FSCA whether that person or company is authorised to render financial services.

Authorised financial services providers receive an FSP number, which denotes that they are entitled to conduct themselves as an FSP. 

The FSCA encourages members of the public to either visit their website (www.fsca.co.za) or call a toll-free number (0800 20 3722) to check the validity of a company or person they wish to engage for any financial services.