Warning against myworship holdings, myarc holdings as part if mywealth method my wealth holdings and mywealthDias

Warning Against MyWorship Holdings, My Arc Holdings, and Associated Entities - all part of mywealth method

It is with a sense of urgency and responsibility that I bring to your attention a serious matter concerning MyWorship Holdings and My Arc Holdings. Based on extensive research and investigation, it has become apparent that these entities are acting as a smoke screen for a massive Ponzi scheme involving MyWealth Legatus and MyWealth Method.

#### Unauthorized Financial Activities

The Financial Sector Conduct Authority (FSCA) has already issued warnings against MyWealth Method for engaging in unauthorized financial activities. Specifically, MyWealth Method is not authorized to provide financial advisory or intermediary services under the Financial Advisory and Intermediary Services (FAIS) Act, nor is it registered as a bank under the Banks Act.

#### Deceptive Practices

In a statement dated 15 March, the FSCA revealed that MyWealth Method and MyWealth DIAS had been *******ly issuing, marketing, and selling shares to the public. These shares were marketed through the MyWealth Method platform with promises of unrealistic returns of up to 400%. Such high returns are a significant red flag and often indicative of *****ulent schemes.

#### Investor Losses

The FSCA's investigation uncovered that the MyWealth Method platform was essentially a Ponzi scheme. Investors were unable to withdraw their funds and ultimately lost both their capital and the promised returns. There was no legitimate financial product or investment activity to generate the purported returns; the scheme re**** on new investor funds to pay returns to earlier investors.

#### Misleading Information

The entities involved published misleading information claiming authorization by the FSCA, further deceiving the public. This case underscores the critical importance of verifying the legitimacy of financial products and services, especially when faced with offers promising unrealistically high returns.

#### Legal Violations and Penalties

The FSCA found that MyWealth Method contravened section 7(1)(a) of the FAIS Act, and both MyWealth Method and MyWealth DIAS materially violated section 11(1) of the Banks Act. The Authority has imposed substantial fines on these entities: R58,793,075 on MyWealth Method and R15,065,852 on MyWealth DIAS. These decisions can be taken to the Financial Services Tribunal for reconsideration.

#### Call to Action

I urge all potential and current investors to exercise extreme caution and conduct thorough due diligence before engaging with MyWorship Holdings, My Arc Holdings, MyWealth Legatus, and MyWealth Method. The patterns of deceptive and unauthorized activities outlined above strongly suggest that these entities are part of a broader Ponzi scheme.

If you have any involvement with these entities, it is crucial to seek legal and financial advice immediately. The FSCA’s findings and the resulting penalties highlight the severe risks and *****ulent nature of these operations.

Your vigilance and proactive measures can prevent further financial losses and help in holding these entities accountable for their *****ulent activities.

**References:** - Financial Sector Conduct Authority (FSCA) statements and reports - Rapport publication on MyWealth Method's activities - FAIS Act and Banks Act violations and penalties

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This report aims to inform and protect the public from falling victim to *****ulent schemes operated by MyWorship Holdings and My Arc Holdings under the guise of legitimate financial activities.