The Financial Services Board (FSB) this week warned investors to be cautious when dealing with a company called Integrated Investment Management SA (IIMSA).
The FSB says it has received several complaints from investors who cannot access or retrieve their investments entrusted to IIMSA.
IIMSA is conducting business in Bloemfontein. It purports to manage clients with investments on the JSE and promises prospective investors returns of between 80 and 100 percent.
IIMSA, which is represented by Peter Duvenage, is not an authorised financial services provider. However, it has submitted an application to the FSB for authorisation under the Financial Advisory and Intermediary Services Act.
The FSB says the application is receiving attention, and until or if it is authorised, IIMSA and Duvenage "will be contravening the law if rendering financial services".
