Investors left high and dry

Increasing number of investors complain they are not getting their money back.

- Adriaan Kruger

Several investors in Livestock Wealth have contacted Moneyweb to complain that they are not getting their money back since the publication of an article that the Financial Sector Conduct Authority (FSCA) is investigating the investment scheme.

At that time, in June this year, Livestock Wealth CEO Ntuthuko Shezi came out with guns blazing, publishing a list of e-mail messages between the FSCA and Livestock Wealth on his webpage to say the FSCA previously stated that the crowdfunding platform did not need to register as a financial services provider.

However, recent disclosures raise questions around whether all the cows and macadamia trees are accounted for. An investor sent an e-mail from New Zealand, asking if anybody knows what is going on at Livestock Wealth.

"After initially being good and legit, it seems like things have turned south there," he wrote.

"I submitted a withdrawal request in April and it still has not been processed until now [27 November]."