BELLVILLE – Colin Davids (39) the pastor accused of running a Ponzi scheme worth millions of rand, is due to make a follow up court appearance in the Bellville Magistrate’s Court on Wednesday the 18th of January 2017.
He is currently out on R100 000 bail with strict conditions and faces charges of fraud in contravention of the Financial Advisory and Intermediary Services Act and Banks Act after his trading company, Platinum Forex, which is not registered by the Financial Services Board allegedly duped investors with promises of higher than normal returns on their investments.
Investigations into this case are at an advanced stage and numerous ‘investors’ have already deposed their affidavits. However, in the interest of justice, we appeal to those who have fallen victims of the said scheme to come forward in order to further bolster investigations. Victim’s cooperation will ensure that justice is served expeditiously to enable them to find closure sooner.