Investment or perceived *****?

Many pensioners and other investors invested heavily in Ecsponent. Their consultants promised excellent monthly returns and enticed investors to invest. The consultants did not do personal due dllligence analysis to determine if the investment would fit the investors profile. In fact after monies were invested the consultants disappeared and are difficult to trace today. After a few months the dividends dried up. Ecsponent could not pay dividends and could not refund the investment amounts on due date. There was also very limited communication regarding the state of affairs. Rumour had it that one of the directors made a huge investment that backfired and they lost a huge amount of investor capital. Suffice it to say they were in financial trouble. Then Afristrat acquired Ecsponent. They changed the name. At a board meeting they changed all investments to shares in Afristrat. However, due to alleged poor management, they could not submit their financial records, so subsuquantly they were suspended on the stock exchange. Now in South Africa, financial institutions are regulated and there are bodies that should oversee that generally accepted accounting practices are adhered to. Why is this not happening at Ecsponent/Afristrat? Pensioners and investors are carrying the loss and are destitute because they have no income. Yet the person responsible for the bad investment is still living the high life. Surely you cannot just write off in excess of R1 billion and whoever is responsible gets off scot free. Where is the Justice? Where is the body that should make sure protocols and regulations should be adhered to?