Five aircraft, one car and 11 pieces of land were seized on Thursday as the Asset Forfeiture Unit in KZN swooped on a dodgy investment firm.
National Prosecuting Authority KZN spokesperson Natasha Kara said the matter was in connection with the contravention of the Financial Advisory and Intermediary Act. “As a result of the advertisements, a number of people deposited funds into Coinit’s bank accounts. In terms of the Financial Advisory and Intermediary Act and the Banks Act, Coinit was not authorised to accept deposits from the investors.
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PICS: AFU attaches helicopter, planes and assets worth R106m of CoinitThe Assets Forfeiture Unit swooped on the assets of Coinit Trading that allegedly fleeced thousands of investors across the country of millions of rands. Eish kodwa Coin IT ku-rough. It is really hard believing all this testimonies online about investing but I'm glad I made the right choice by learning and trading with Jeff_Arnhoff his promises about withdrawal are accurate and withdrawal doesn't take time...thanks to those that encourage me to meet Jeff DOJCD_ZA ConCourtSA OCJ_RSA ParliamentofRSA PresidencyZA but the problem is its the people who invested that suffers now from 2019 others retired,resigned nd invested all the infightings between the Coinit nd liquidators is leading to ppl dying of stress nd marriages breakin
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