On 17 March 2026, the Financial Sector Conduct Authority (FSCA), by agreement with Mr Johannes Lodewicus Du Plessis (Du Plessis) and JLD Investments CC Registration Number 2010/171827/23 (JLD Investments), and without the intervention of the court, appointed a curator in terms of section 5(10) of the Financial Institutions (Protection of Funds) Act, No. 28 of 2001 (FI Act). The curator was appointed as such for a part of the financial services business of Du Plessis and JLD Investments.
The appointment of the curator forms part of the FSCA’s investigation into Du Plessis and JLD Investments. The investigation commenced as a result of information received by the FSCA that Du Plessis, among other things, collected funds from the public and used these funds to trade in equities. Du Plessis further allegedly promised unrealistic returns to his clients. On 18 November 2024, the FSCA published a press release to this effect, which is reproduced below.
The Financial Sector Conduct Authority (FSCA) warns the public against conducting financial services business with Du Plessis.
The FSCA received information that Du Plessis, through his entity JLD Investments CC (JLD Investments) allegedly offered to render financial services and promised unrealistic returns of up to 36% per annum to members of the public. Furthermore, Du Plessis allegedly intentionally and incorrectly misrepresented himself as a representative or broker for Sanlam Private Wealth (Pty) Ltd (Sanlam Private Wealth). Sanlam Private Wealth has informed the FSCA that Du Plessis is not authorised to act as its representative. Du Plessis and JLD Investments are not authorised financial services providers (FSP).
The FSCA is currently investigating these allegations. The purpose of the investigation is to establish whether Du Plessis and JLD Investments are contravening and/or have contravened financial sector laws, including conducting unregistered financial services business. The investigation is not completed and the FSCA has made no findings yet. This public warning should not be construed as a communication of the findings of the FSCA.
The appointed curator is Mr Aubrey Magerman (Mr Magerman) of Magerman Attorneys. Mr Magerman is an attorney with over 18 years’ post-qualification experience across commercial litigation, regulatory investigations, mining and administrative law. The objective of appointing a curator is to protect the interests of clients who invested with Du Plessis and JLD investments.
The powers of the curator are subject to the control of the FSCA in accordance with section 5(6) of the FI Act. The curator is also required to provide the FSCA with written monthly updates and/or reports on the progress of the curatorship.
Members of the public who invested funds with Du Plessis and JLD Investments or who have any information relating to the financial services business of Du Plessis and/or JLD investments are encouraged to contact Mr Magerman via email at aubrey@magermans.co.za or telephonically on 083 461 5294.