Coin-It offices closed pending FSCA probe
In a statement to the Courier, the FSCA said all assets 'meant to have been acquired by the moneys invested' are being traced.
It is ‘too early’ to say what will happen to investors into Coin-It and Commex Minerals, following the raid two weeks ago by the Financial Sector Conduct Authority (FSCA) at the Dundee-based company’s office on Cable Road.
A large sign now placed on the gate of the premises indicates the offices will remain closed, as per the instructions of the FSCA. It also states all queries be directed to info@coinit.co.za
In a statement to the Courier, the Communications Office of the FSCA said, “…Currently all assets, which were meant to have been acquired by the moneys invested, are being traced.”
The Courier has been inundated with phone calls and e-mails asking what would happen to the money invested into Coin-It especially over the years.
Coin-It spokespeople have steadfastly maintained the view that investors would be paid once the investigation was concluded, and said those who committed fraud against the company were to blame. The FSCA was also blamed for ‘acting in bad faith’, by raiding the premises after Coin-It’s legal team met with FSCA officials to ensure the company was not violating any legislation.
Read this week’s edition of the Courier for the full story.
RELATED STORY: Drama unfolds as Coin-It and Commex Minerals are raided
HAVE YOUR SAY:
Like our Facebook page, follow us on Twitter and Instagram or email us at dundee.courier@caxton.co.za. Add us on WhatsApp 071 277 1394.
