In­for­ma­tion on Ed­wafin

Finweek English Edition - - Front Page - PAUL FOURIE

I’M AN AD­VISER at the Lib­erty Group. Clients of mine have been ap­proached by con­sul­tants of Ed­wafin to in­vest their funds with them for a guar­an­teed re­turn of 20%. My con­cern is that this is their re­tire­ment sav­ings from which they earn a liv­ing. I don’t know too much about Ed­wafin, ex­cept for a re­port I found you pub­lished on 14 De­cem­ber 2006. Do you have any fur­ther in­for­ma­tion on this com­pany?

I’m afraid my clients might lose all their money by chas­ing such “too good to be true” in­come re­turns. They’re do­ing so through an FSP ap­proval (num­ber 31990) for a com­pany called Ed­wabond. Where else can I get info to back up my fears? There’s lit­tle on the web­site. Thanks in ad­vance for your as­sis­tance. Vic de Klerk replies: I’VE ASKED FOR a copy of Ed­wafin’s fi­nan­cial state­ment for the year to June 2007, in which they claim an au­dited profit of R5m. They have not yet re­sponded to my re­quest. Prospec­tive in­vestors must please avoid this scheme at all cost.

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