Controversial trading platform Banxso seems to continue to trade and accept client deposits despite its licence being provisionally revoked and its bank accounts being frozen.
Moneyweb can confirm that its trading platforms remain active and some clients were directed to deposit money into the Absa account of Ahead Start more than two weeks after its accounts were frozen.
This comes after Nedbank, Standard Bank and Capitec froze Banxso's accounts on 1 October, following the Financial Intelligence Centre's (FIC) instructions.
The Asset Forfeiture Unit seized the remaining funds, and the Financial Sector Conduct Authority (FSCA) provisionally withdrew its financial licence.
The FIC states in court papers it believes Banxso is a "criminal enterprise designed to defraud innocent members of the public".
One victim has launched liquidation proceedings.
Banxso denied that it is conducting any business or accepting any new business and is working with the authorities to limit the impact on clients.
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Diese Geschichte stammt aus der October 31, 2024-Ausgabe von The Citizen.
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