The Financial Sector Conduct Authority (FSCA) warns the public to exercise caution when conducting financial services business with individual(s) using the names Ms Praise Van Vuuren (Van Vuuren) and Ms Maryk Calitz (Calitz), purporting to be associated with Ava Markets Capital (Pty) Ltd t/a Ava Trade (Ava Trade) with FSP number 45984.
It has come to the FSCA’s attention that individuals identifying themselves as Van Vuuren and Calitz are offering investment opportunities to the public by purporting to be associated with Ava Trade on Facebook. These individuals are reportedly soliciting fund from members of the public for investment purposes. Ava Trade confirmed that it has no association with Van Vuuren and Calitz or the activities conducted on Facebook in its name.
While the FSCA does not comment on the specific business model or services offered by Van Vuuren and Calitz, it is important to note that the individuals behind the Facebook Groups are not authorised under any financial sector law to provide financial services. The individuals behind the scheme failed to respond to FSCA queries.