1 reviews | Active since Apr 2015
Liberty has *****ed my dad out of his life earnings
My dad has been ****** out of his life earnings and not even n hello peter is enough media needs to know about the below "In 2015 I was introduced to Chris by my son in law to discuss investment, from that moment on Chris would be qualified as my financial adviser. We then went on to invest R300 000 with Stanlib. A few months later I had discussed with Chris to release some of my money to cover doctors bills as I was diagnosed with prostate cancer. Last year Chris approached me and advised me to retrieve my investment with Stanlib and invest with a company called Peperstone, we then went into standard bank to release the money and make a deposit into his account as he stated that we could only invest through his account because he had the necessary license to do so . Chris advised me that I could receive R7000 of my interest into my bank account monthly and so I had signed to give authorisation for this. However, my first interest received was the full R7000 but the second month unfortunately I had only received R4000 and approached Chris to question this. Chris informed me that he would get back to me and find out why I received R4000. A few days later Chris advised me that the interest was taxed and he will resolve this issue as this money is not supposed to be taxed due to it being only 5% interest. He then told me that the money that was deducted from tax will be given additional to the next months R7000. The following month I waited and never got any interest so I approached him again and once again was told that he will sort it out, He got back to me telling me that there was a loss in my investment because Steinhoff's financial crisis. Chris then told me that they would use my interest and taxed money to replace the money I lost. In February this year i asked him to please release R50 000 of my money to resolve financial difficulties caused by me not receiving the interest which I had planned to use. Chris told me that I would receive the money in 10 days. 10 days later there was no money. I approached Chris again and he informed me that he would need to contact the investers to find out what is going on. He then told me that Peperstone sent the money and asked that I go to the bank which I done with him (Standard bank forex) the bank advised me that there was no trace of money. The next time he got back to me he told me the money was deposited into his account so he needs to give them his banking details for the money to come to his account. After some time I went to his offices with my wife as I could never get a hold of him and my questions was never answered. At his offices he led us to the boardroom where he called forex FNB that he banks with. The person he spoke to advised him that he is not supposed to invest my money through his bank account as it is seen as ***** so he would need a letter from the bank and take it to SARS to get stamped and taken back to the bank. After a few weeks of phoning him and him making excuses not giving me feedback my wife and I went back to his offices. There we waited for him and he took us with him to FNB bank, at the bank we called FNB FOREX from the branch as they are not situated in the branch. Forex said that they need to investigate as off sure has different codes to S.A. then the consultant at the bank had to print the codes from off sure and S.A for him to send it back to Peperstone to advise which code was used to bank the money from their end. In order for the 2 banks to link so that FNB can receive the money. Chris advised he would get a hold of Peperstone to do this and let me know. He then called me to say that it was sorted. So I messaged him advising him of my financial situation and he deposited R5000 of his money into my bank account. After a couple of weeks there was no information of my money so he told me he is having a presentation at East gate liberty life where we could meet but on arrival he was the only one there with his brother. That was the last I have seen from him and the last thing he told me was that the off sure banks need to trace the money and when I asked how long he rep**** "Indefinitely". I messagesd him on watsapp and he has been quiet. I am concerned as he advised me that only my money out of all his clients was sent to Peperstone. He gave me alot of running around to get a hold of him of which I had not mentioned here. I then decided to seek help from you. I also feel that he took advantage of my condition during the past year. I only trusted Chris because he came to me as a liberty employee an advisor I took this concern to liberty and they were investigating while Mr Chris mazibuko was suspended Chris now resigned and today I received a letter from liberty stating that they can't take responsibility as the companies I invested with was my personal thing with Chris and not through them when I have been thinking all these years that these investment companies was part of liberty because he was part of liberty I feel that they running away from responsibility when all my hard earnings over the years is gone I am now expected to sit back and accept it"
Dear Mr Stolls
Thank you for your posting.
I would like to sincerely apologise for the frustration that you are experiencing.
Your complaint has been escalated to the relevant management for urgent investigation and resolution.
We will shortly respond with feedback.
Please feel free to contact me should you require any information.
Kind regards
Sizwe Ncipha
Liberty Group Customer Relations
Dear Mr Stolls
Thank you for your posting.
I would like to sincerely apologise for the frustration that you are experiencing.
Your complaint has been escalated to the relevant management for urgent investigation and resolution.
We will shortly respond with feedback.
Please feel free to contact me should you require any information.
Kind regards
Sizwe Ncipha
Liberty Group Customer Relations
