The Financial Sector Conduct Authority (FSCA) warns the public against conducting financial services business with an entity called Indiberries & Co. The FSCA has received information that Indiberries & Co is conducting unregistered business and misrepresenting
itself to be a juristic representative of Peter Berry Trust Services (Pty) Ltd (FSP 696) (Peter Berry Trust). The FSCA is concerned about the unrealistic monthly returns offered to members of the public in South Africa.
Peter Berry Trust has confirmed that it has no relationship with Indiberries & Co and that it has not give its permission for its details to be used. The Indiberries & Co uses referrals and videos on YouTube, TikTok and Facebook (social media platforms) to encourage members of the public to participate in Indiberries & Co’s scheme by investing in “berry farming ventures”. Indiberries & Co promises its participants
unrealistic returns of up to 45% per month.
Without commenting on the business of Indiberries & Co, the FSCA points out that offering financial products or services in South Africa requires authorisation by the FSCA. Indiberries & Co is not licensed by the FSCA in terms of any financial sector law. Indiberries & Co was
not available for comment.
FSCA encourages the public to be cautious of investment opportunities being offered on social media platforms. Members of the public are encouraged to verify the legitimacy of investment opportunities and refrain from disclosing personal or financial information to
unknown individuals and entities online. Entities unlawfully impersonating authorised product or financial services providers is becoming a common occurrence.
For more information or to read other press releases from the FSCA, please click on the link below or on Toll-free number: 0800 110 443
1) Online search for authorised financial institution by license category: https://www.fsca.co.za/Regulated%20Entities/Pages/List-Regulated-EntitiesPersons.aspx.
2) Online search for a financial institution that is an authorised FSP in terms of the FAIS Act:https://www.fsca.co.za/Fais/Search_FSP.htm.
