deVere under attack in South Africa

By Janice Roberts
Editor

Nigel Green

One of the world’s largest financial advisory organisation, deVere Groups is “under attack in South Africa”, affirms the CEO.

Nigel Green, founder and chief executive of deVere Group, is speaking out after it has come to light today that a bogus investment website has been launched in South Africa which claims to have the investments “underwritten by deVere Group.”

He comments: “Let me be absolutely clear: www.bottomlinegroup.co.za is not affiliated with, operated by, or owned by deVere Group.

“This is a blatant – and rather bad – attempt at trying to discredit our enviable reputation for providing our clients with a world-class, results-driven service.”

He continues: “This fake site is incredibly amateur. For instance, there is not even the correct spelling of ‘deVere’, there are multiple examples of incorrect grammar, and it is vague in a way that a professional investment firm never would be: “Our Company is legal & a registered investment entity and has been working for quite a number of years.”

“Yet despite the fact it is rather crude in every aspect, there is a very real danger that it could defraud the public, as well as bring the wider financial services industry in South Africa into disrepute.”

Mr Green goes on to say: “This bogus website is just the latest in a series of alarming events. Indeed, it would seem that deVere, the most successful international advisory company in the country, is coming under attack by setting up fake sites and even creating fake client complaints.

“It can be reasonably assumed this is from disgruntled former employees whose contracts we terminated and/or rival firms.”

He adds: “It’s a sad reflection of some within the SA finance industry when they feel compelled to attack a proactive, forward-thinking, successful company such as deVere, which is fully authorised, regulated and licenced.”

The deVere CEO concludes: “The public needs to be aware that neither deVere Acuma nor deVere Group deal directly with client monies.

“This has been reported to the Financial Services Board (FSB) and I would urge anyone who has more information about this illegal practice to speak to either the police or the regulator as a matter of urgency.”

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