The Parow pastor at the centre of a massive Ponzi scheme police investigation says he views the allegations so seriously he has asked one of South Africa’s largest auditing firms to examine his business. Colin Davids, pastor at New Direction Grace Church, denied allegations he operated an illicit Ponzi scheme promising people unusually high returns on investments. Platinum forex group investigation in the classroom, saying platinum forex group investigation activities information was privileged.
All he would tell the Western Cape High Court was the probe would probably be concluded in March and until then the court should not make a decision on whether his assets should be declared forfeited to the State. Davids is the sole member of Platinum Forex CC and he and the close corporation are under investigation for allegedly luring people with promises of returns as high as 84 percent. These transactions need to be collated and verified for the respondents to mount a defence to the forfeiture application. Davids and Platinum Forex took issue that the AFU placed the forfeiture application on the roll of unopposed cases, saying the unit knew the application was opposed. The AFU countered that the respondents had not filed opposing affidavits and the matter was therefore, by default, enrolled as unopposed. The parties agreed to postpone the forfeiture application until September.
Colin Davids is a pastor at New Direction Grace Church in Parow Industria. 31 Hard livings gang leader Rashied Staggie asks the community for forgiveness at the Grace Church in Parow. This home in Hermanus also belongs to Colin Davids, the CEO of currency trading company Platinum Forex Group. Colin Davids is the CEO of currency trading company Platinum Forex Group, and a pastor at New Direction Grace Church in Parow Industria. This multi-million rand home in Plattekloof belongs to Colin Davids, the CEO of currency trading company Platinum Forex Group. Investors and church leaders have come out in support of a holy man accused of running a R138 million pyramid scheme, saying they trust him with their lives.
Woolworths, Checkers and Pick n Pay. Platinum Forex is not a public company that is lawfully allowed to provide financial services in terms of the Financial Advisory and Intermediary Services Act, or to conduct business of a bank in terms of the Banks’ Act. It is also alleged the company made false promises to members of the public, saying that their so-called investments would yield interest returns of between 48 percent and 84 percent. That we have so much money that we should be a bank. We are very close to put this challenging episode behind us and see to the wellbeing and wishes of our clients. We will not entertain further discussions here . A pastor at New Direction Grace Church, Peter Barnes, said some of the church’s property was also confiscated.