The Financial Sector Conduct Authority (FSCA) has issued a warning about Mr. Lethabo Molefe, who is illegally soliciting investments from the public.
What’s Happening?
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Molefe promises R9,000 returns from an initial R900 investment through Telegram groups.
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Funds are deposited into a Capitec Bank account under Mr. Thato Rapelego.
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Rapelego claims his account was used without his knowledge.
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Neither Molefe nor Rapelego is authorised to provide financial services.
FSCA’s Warning
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Unrealistic returns are a red flag—always be suspicious.
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The FSCA is investigating and will involve the South African Police Service (SAPS).
How to Protect Yourself
Check authorisation – Only use FSCA-approved providers.
Verify FSP numbers – Match them on the FSCA database.
Avoid social media offers – Be cautious of unsolicited investment deals.
How to Check if a Provider is Legit
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Call FSCA: 0800 110 443 (toll-free).
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Search online: List of Regulated Entities.
Stay alert! Report suspicious schemes to the FSCA.
“To avoid unnecessary risk, the public should refrain from accepting financial advice,
assistance, or investment offers from individuals or entities not authorised by the FSCA.
Authorised financial services providers must clearly display their authorisation status in
their documentation. If this is not present, it is advised to further investigate before making
any payments,” said FSCA.
