South African Watchdog Accuses Pastor of Operating a Forex Scam.
Authorities seized 138 million rand worth of property, allegedly bought with investors money, including houses, BMWs, Jaguars and more.
Avi Mizrahi | Regulation (Retail FX) | Sunday, 26.07.2015 | 11:43 GMT
As the awareness for the potential of online margin trading increased in recent years, we are seeing more and more fraudsters running ponzi schemes under the guise of forex investing firms to prey on investors. Sadly, it seems the allure of easy money from such scams is irresistible even to self proclaimed men of god.
South African authorities have taken action against a Cape Town pastor, Colin Davis, the sole owner of Platinum Forex for allegedly running a financial pyramid scheme. According to the accusations, Davis has promised clients of his firm with a return on investment as high as 84%. Since