Be careful of Bobat Wealth Solutions

I very strongly suggest people keep away from these guys. We did do business with them a while back but it seems their reputation of being honest, dedicated ethical investment firm is no more.

One of the directors (who also used his CA(SA) and CFA credentials is under investigation for ***** (as per lawyer request, I cannot divulge more). Syndicated freehold properties owned by investors (some of whom are widows, elderly, chronically ill) were bonded (without consulting with shareholders) by the director/s and family members and more than R200 million has already been unaccounted for.

The first red flag was having a CA on a board and then not showing annual financial statements to investors, which again brings the chartered accountancy profession into disrepute. When we had a meeting with him, the only thing he could say was that he was not involved (we have legal documents to say that this was untrue) and was more worried about his reputation in the financial industry and his relationship with his co-director ,than our monies that had disappeared.

If anybody is thinking of investing here, please use your discretion and judgement.