Bad service

I the above mentioned declares that I have inherited an amount of R300 000.00 from my father’s estate in January 2017. I went to my lawyer Mrs Mabatho Motimele of Motimele Inc. for an advice since the amount was too much for me to claim on my own. Mrs Mabatho Motimele then told that she can get me a Financial Advisor and I agreed to it. I met with the Financial Advisor (Mr Vishalle Hiralal) on 28 January 2017, I then explain to him my initial plan of investing my money with Standard Bank and he advised me to invest with Discovery Invest because the interest is higher than those of a normal Bank. I took his advice and agreed to invest with Discovery Invest.

I asked him if it will be possible for me withdraw my money should the need arise for me to utlise my money before the agreed term, he confirm that I can withdraw but I will be charged a certain percentage which he did not divulge what the percentage is. He also confirmed that I will be receiving annuity income of R1640.03 monthly.

The problem started when I wanted to withdraw an amount of R100 000.00 in June 2017 and I was charged half of the amount I withdrew which is R100.000.00 as a penalty and I was told that is how it works, and they refused to give me the breakdown. I then decided to terminate the contract with them and just keep the money in my account but from that time they have been sending from pillar to post and started avoiding my calls. I went to their offices in Centurion, but I was sent back to Menlyn Offices where they advised me to report my attorney and Financial Advisor to FAIS Ombudsman which I did on the 21st September 2017, but the attorney and Financial Advisor are both not responding to any of the letters that were sent to them. I have decided to take the matter to Speak Out as I have run out ideas on where to go for assistance, I desperately need the in order to start my business urgently.