Brothers face fraud charges of R600m

Cape Town - Two brothers charged with fraud involving an investment scheme in Wellington involving more than R600 million are to face more charges, the Bellville Commercial Crimes Court heard on Wednesday.   CLICK the above Red LINK to read the Full Article.

Syndication scams fleecing investors

And the reason for this is simple: property syndications offering excessively high interest rates cannot be sustained. If a bank pays 6,5% and a syndication offers 12 % be suspicious. Be very suspicious. If it offers 8% or maybe 9% at a push then maybe someone’s done their homework. Maybe then it might be worth looking into more carefully.  CLICK above LINK to read Article.

Investors take Treoc 'Ponzi scheme' to court 

Cape Town - Controversial property investment group Treoc is gearing up for seminars in Pretoria and Cape Town where it will tell potential investors how to invest their money in property trusts to avoid tax, and how to use other people’s money to grow wealth by taking over those people’s mortgage bonds.  CLICK above LINK to read Article.

Treoc Capital promised investors 24 % a year in returns on their investments, but was unable to meet its obligations, leading to the investigations and hearing. 

The investigations also found that Treoc Capital operated as a bank without a banking licence.

The liquidation of Treoc Capital - a company that acted as a bridging finance vehicle for property investors in which Treoc Limited, the holding company for Treoc entities, was a shareholder - followed a 2009 sequestration hearing into Surf Trust.

Surf Trust was owned by a young investor who owned multiple properties using the “Treoc Way” and who was unable to service his debt to the banks.

Click HERE  to read the Full Article.