The Financial Services Board (FSB) has succeeded in “freezing” funds in bank accounts belonging to Ledimar Investment Holdings CC, which is believed to be operating a pyramid scheme.
According to a media release issued yesterday by the registrar of financial services providers (FSPs) at the FSB, the preservation order against Ledimar was granted by the South Gauteng High Court following a successful application by the National Directorate of Public Prosecutions, in terms of the Prevention of Organised Crime Act.
In terms of the order, funds in certain bank accounts belonging to Ledimar Investment Holdings CC have been preserved. This means the funds have been frozen, and no one is permitted to deal with these funds, except in cases permitted by the order.
On October 11, the High Court granted an interdict in favour of the executive officer of the FSB that prohibits Ledimar – including Ledimar Financial Services (Pty) Ltd, Ledimar Stock Trading (Pty) Ltd, Ledimar Investment Holdings CC and the directors, Frank Dintwe Pilane and Mzwandile Reginald Qwadikazi – from:
* Holding themselves out as FSPs;
* Advertising for, or receiving funds from, members of the public; and
* Using FSP number 44226.
Members of the public are warned not to hand over funds to these entities.
The known addresses of Ledimar are:
* Sinosteel Plaza, level seven, Unit 7DI, 159 Rivonia Road, Sandton; and
* First floor, Corner House Building, 77 Commissioner Street, Johannesburg.
The FSB says that Ledimar also has branches in Welkom, Klerksdorp, Rustenburg and Mafikeng.