Liberty Misconduct with an intent to *****

I have been in a 7 year battle with Liberty. The broker appointed by Liberty to manage my portfolio has been completely dishonest and conducted ********* transactions without my knowledge or consent. I will try my best to explain the current situation considering Liberty is holding back my information to provide with evidence. The matter was escalated to head of forensic who again mentioned she can’t give me any information until liberty has completed with the investigation. Only after which the information I required will be made available. Liberty will provide me findings that suits what they need. Liberty has concluded that there was no negligence or ********* conduct on my profile. I have asked for a full investigation on every single policy from start to end. I am a layperson and clueless about how insurance works. We trust Liberty to protect our investments and help us make educated decisions. Liberty confirms and state there is no irregularities, misconduct and gross negligence with the intent to commit *****. All Liberty wishes to do is conclude the investigation with what they found and confirm signature verification. Liberty rep**** saying a meeting needs to be set up with them, physically so they can take me through each policy. Is it fair they bring me into a room to discuss their findings on my policies and I will not have anything available to me. It’s my information that they refusing to disclose. Liberty intends to have a meeting with me to discuss my policies but I will have no access to what they presenting to me. I started an investment with liberty and the broker advised that the money he put my funds are going to give me the best returns and my capital guaranteed. What was shocking was my money was put into an insurance product were 70% of my capital is at risk, no guarantee and I could lose my entire life savings. Basically liberty gambled with my funds and placed me into debt. It’s been years and I trusted liberty to offer me the best product with guaranteed capital. These transactions occurred during the time I lost my dad and a year later my mom. I was not coping emotionally and physically. I was then hi jacked and then another incident occurred that altered my life and I was in deep depression. I even ended up in psychiatric hospital. I was then diagnosed with Lupus. I wasn’t aware of anything that was going on. During this time I had 4 policies and the broker started moving my funds every six months to another product. On the first day of investment I lost over R100k. I didn’t even know I had 3 RA and 2 policies was issued in the same day. The 3rd RA happened in one month later. I lost so much money and I was left with nothing, I ceded a policy to my benefactor so in the event of death I can pay them back for all my medical treatments. It was only then I realised what was going on. Not only did I lose money but liberty has informed me that I am in debt and I have to pay back R1m to liberty, I don’t understand how a policy in debt debt or is now a liability be ceded. Again this was shocking news that my investment with liberty has turned into a debt and liability. The broker on record at the time has said to me that he would never do something like this and he pushed blame onto another broker. The fact that the broker admitted that there is ***** and irregularities on my portfolio means nothing to LIBERTY. The broker said he was on a call with liberty head office on the 20th October and he is investigating who has done this. I was promised a call recording of what transpired between broker and Liberty however, they haven’t given it to me. I have all this as evidence to prove that I was cheated and Liberty never protected my interest. I trusted liberty as a brand that is strong and big enough to manage our investments however liberty gave me a surprise that put my capital in a product that your capital is at risk and I could lose 70% of my capital. My capital was very safe in the FD with the bank, however the said I cant lose any money.There is so much more to disclose about Liberty. A surrender form that was sent from the broker to liberty. Liberty didn’t have record of the documents and said they can’t find my paperwork. The one investment had huge impact on early withdrawal. Liberty Headoffice asked the broker if he discussed the impact of the withdrawal to me on email and in 1 minute he rep**** and said yes, I have notified her. I never received this information and neither was discussed me. My money was paid to a 3rd party without my consent and then the funds returned to me. I also have in writing that on every policy the broker never received any commissions from the policy as he knew I was a total wreck and he even attended both my parents funeral. From the broker side he has denied everything and passes blame. I then requested from liberty which broker is responsible and to give me their details and to date they unable to tell me which liberty broker has done this, Since 2017 I have been begging for a full report on every policy start to end. All liberty has is an excel spreadsheet. The fact that I have been cheated and these are the questions which liberty is failing to provide. I must bring to your attention that I said to liberty I have reported the matter to FAIS ombudsman, after notifying them I was nagged for the incident number, This was my foolish actions because all Liberty wanted to do was respond to the ombudsman before the notice date, had I not disclosed this reference then perhaps my situation could have been solved. Liberty is refusing to respond to all my emails with feedback and proof that I am asking of them and I wanted it answered one policy at a time, because I ended up with 13 policies in a format I can understand. The sad thing is that liberty on email from the forensic department rep**** to me stating to me “I can’t address each query of what you need. I kept requesting information however her emails to me is that it’s long process and when they are done then I can request information ABOUT MY POLICIES, However after the investigation is completed then they will disclose everything about my policies, so I have to sit backed and be bul**** that they won’t submit me all the documents because they have a to follow internal investigation and gather documentation and evidence. I would like to bring to your attention that regarding every single policy I have/had with Liberty that there is sufficient evidence that can prove gross negligence, misconduct, ********* conduct with intent to de***** me. The Liberty broker sent me an email asking me to sign an acknowledgment of debt. I called him and he said he sent it to the wrong person, along with the fact that my mom passed away and I submitted a claim form and there was deductions and it’s been 7 years and I haven’t received a what deductions was made and what was the final payment. Liberty has failed to provide or meet the following basic FAIS REQUIREMENTS.

1. Record of advice, in terms of the financial advisory and intermediaries services (FAIS) Liberty and the broker must provide a brief summary of the basis of their recommendations. 2. Payment request form: FAIS act 37 of 2002. The purpose of this act is to Protect consumers and regulates the business of financial service providers. (FSP) and their representatives by providing me with enough information to make an informed decision. 3. Liberty payment request process and governance was not followed, the payment request form has to be must be completed and signed by the policy holder. My banking details was struck off and the broker wrote instructing to change of banking details. 4. Liberty surrender section 2 all my details was struck off and I have not signed or initialled that page. 5. surrender Act of FAIS, The implication of cancellation/surrender of the contracts has to be disclosed to the policy holder/owner such as to influence on the benefits under old contract, should there be additional cost or loss on your Portfolio 6. FAIS - Bank account details, Liberty claims to protect clients payments and no payment is made unless it’s the Policy owner. Should a change arise or Bank details differ to the account on record, Proof of account i.e. cancelled cheque, letter from the on bank letterhead and stamped. All originals must be presented and verified before payment is made 6. Financial Act, replacing a policy with another policy is potentially prejudicial and where a replacement is considered,LIBERTY legally failed to provide me being the policy owner with a comprehensive information/report regarding the consequences of such changes. 7. EFFECTS OF REQUESTED CHANGES, The information contained in the document or any change is only valid if generated by Liberty “what if” quotation system and is for the exclusive use to the policy owner contemplating changes to any contract so the policy holder has an understanding. I never received. 8. LIBERTY CHANGES, any changes or amendments to the existing contracts will be have to follow Liberty acceptance process. This never happened neither the process disclosed to me. 9. Due diligence and risk profile, there never was one done for me and no record from liberty that this was done. 10. Failure to provide frequent updates on my portfolio. Liberty and the broker over the years that have passed has never had any meeting or updating on any progress, loss on policies. 11. Liberty failed to provide Original documents, on every single policy no originals was given to me. Also LIBERTY had no electronic copies available on some policies and was completely dependent on the Broker to provide documentation. It’s been 7 years the Broker has not shown me anything. LIBERTY in the outcome of the investigation stated they awaiting broker to provide them with feedback. 12. FAIS ACT, Liberty is legally responsible to ensure all my documents be kept in an electronic safe file system. They fail to provide me with this and said they awaiting broker to provide documents. 13. Brokerage fees or management cost, Liberty and the broker had a legal obligation to disclose this information to me. See attachment D1 the broker sent me an email stating he has never benefited or received from any commission on my policies. 14. Liberty failure to disclose which broker is responsible for these transactions see attached 5A- 59, the broker confirmed that they are indeed *****ulent activities and misconduct on the policies. However as per the proof attached he stated he was not responsible and would never commit such ********* activities to me or my portfolio. The blame was passed onto another broker or as liberty broker states someone did it on my behalf. Liberty has not disclosed who is responsible for the all transactions. 15. Recorded call, the broker was upset that I accused him of these actions and on the 20th October 2022 he said he was on a call with liberty to find out who is responsible. I was promised a copy of call recording. I am legally entitled to it. Nothing received. 16. Broker full report, the broker was upset that I accused him of these actions and on the 20th October 2022 he said he was on a call with liberty to find out who is the culprit. What is really shocking is that liberty said to me that they don’t have my paperwork and they awaiting information from broker. So liberty doesn’t have original and the broker is currently “unknown”