FSCA warns the public against fraudsters impersonating Alumni Energy Investments Ltd

09 June 2020 The Financial Sector Conduct Authority (FSCA)

The Financial Sector Conduct Authority (FSCA) warns the public to be cautious when dealing with individuals who are fraudulently impersonating Alumni Energy Investments to dupe members of the public.

The FSCA received information that individuals are attempting to use Alumni Energy Investments’ name to fraudulently solicit money from people on WhatsApp. The scam is communicated on WhatsApp and offers its investors immediate returns within 24 hours. The scam also illegally uses the name of Alumni CEO, Mr Shakes Motsilili to mislead victims. Alumni Energy Investments Ltd has issued a warning statement on their website and advises existing and potential investors that it will only accept new investment queries on email using the email address.

Members of the public are therefore alerted of this fraudulent activity and are requested to verify communication received from this entity accordingly. The FSCA again reminds consumers who wish to conduct financial services with an institution or person to check beforehand with the FSCA on either the toll free number (0800 110 443) or on the website as to whether or not such institution or person is authorised to render financial services.

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