The Financial Sector Conduct Authority (FSCA) has issued a stern warning to the public regarding Mr. Jacques Adriaan Jordaan, an individual allegedly soliciting investments with promises of unrealistic returns.
According to the FSCA, Jordaan has been encouraging members of the public to deposit funds into personal trading accounts under his control, claiming he will trade on their behalf for high profits. However, the regulator has received complaints that Jordaan failed to deliver returns and has since become unreachable.
“Trading profits cannot be guaranteed, and offers of unrealistic returns should always be treated with extreme suspicion,” the FSCA stated.
The FSCA confirmed that Jordaan is not authorised to provide any financial services in South Africa, raising serious concerns about the legitimacy of his operations. Despite attempts to reach him, Jordaan was unavailable for comment.
The regulator urged the public to verify authorisation status before engaging with any financial service provider. “Unauthorised entities pose significant risks—always check FSCA registration before investing,” the FSCA emphasized.
Consumers were also cautioned against social media investment pitches and unsolicited offers, with the FSCA advising thorough due diligence to avoid potential scams.
For safety, the public should only deal with FSCA-approved providers and report suspicious activity to the authorities immediately.
