Warning: Beware of Deceptive Practices by MCG Finance (PTY) LTD

It is with great dismay that I must recount my harrowing experience with MCG Finance (PTY) LTD, a company from which I sought a loan of R1,500,000. What initially seemed like a straightforward financial transaction quickly devolved into a nightmarish ordeal fraught with deception and ******ion.

From the outset, I repeatedly requested MCG Finance to disclose their Financial Services Provider (FSP) Registration Number, a mandatory requirement for lending institutions. Despite my insistence, they evaded the issue, refusing to provide this vital piece of information. This blatant disregard for regulatory transparency should raise significant alarm bells for any prospective client.

Moreover, MCG Finance's promise of no upfront fees was promptly shattered once I signed the agreement. Abruptly, they demanded an exorbitant sum of R5,499, citing dubious reasons for this sudden imposition. Reluctantly, I acquiesced to their demands and transferred the funds into their Capitec Account, only to be met with further demands for additional payments.

The insidious demands continued unabated, with MCG Finance insisting on an additional R9,799.00 as a purported "service charge" for clearance purposes. After protracted negotiations and relentless pressure, they begrudgingly reduced the amount to R3,000, coercing me into yet another payment. Subsequently, they callously demanded an additional R1,500, further exacerbating the financial strain.

Despite complying with their ever-escalating demands, MCG Finance callously reneged on their promises, withholding both the promised loan amount of R1,500,000 and the refunds owed to me. Their ********* tactics and wanton disregard for ethical conduct are nothing short of reprehensible.

I implore all prospective loan applicants to exercise utmost caution when dealing with MCG Finance (PTY) LTD. Their lack of transparency, ********* practices, and apparent absence of an FSP Registration Number serve as glaring indicators of their ************ nature. Let my ordeal serve as a cautionary tale, and may others be spared the anguish and financial ruin that I have endured at the hands of these ********* ****mers.