FSB says beware of Troy Capital Ventures

In the interest of protecting the interests of consumers, the Financial Services Board ('FSB') has issued a consumer alert regarding a South Africanbased businessman Mr Mauritz van Roon who is operating a scheme called "Scholar Plan" and incorrectly representing that the scheme is registered with the FSB as a financial services provider.

Troy Capital Ventures CC, a close corporation managed and owned by Mr van Roon and based in Centurion Pretoria, is operating the scheme which purports to offer parents some sort of financial relief in meeting their obligation towards financing their childrens education. 

FSB spokesperson Russel Michaels says the scheme appears to target parents whose children are attending both primary and secondary schools.  "The FSB was alerted by a member of the public who had received promotional material from Troy Capital Ventures CC, was sceptical about it, and enquired whether the entity was registered with the FSB.

"According to the promotional material the investor has to pay a once-off amount equivalent to double the annual school fees of a particular learner.  For example, if the school fees of the learner amounts to R5 000 a year, the amount required by Troy Capital Ventures is a lump sum of R10 000.

"This money would purportedly be invested in various instruments locally and offshore. Once the contribution was paid into Troy Capital Venture's bank account, according to Mr Van Roon, the entity would fund the school fees for that learner until the completion of Grade 12.

"The FSB has no record of Troy Capital Ventures and suggests that the public preferably approach a recognised financial institution for a study loan," Michaels added