Mandla Lamba’s companies are not registered to render any financial advice : FSCA

mandla lambas companies are not registered to render any financial advice fsca

Sumary of Mandla Lamba’s companies are not registered to render any financial advice : FSCA:

  • Lamba recently resurfaced as a businessman with a company that promised “too good to be true” investment returns.
  • Investors in his “billionaires’ club” were promised a “guaranteed” income of up to R1 million per month in exchange for an investment of just R150 000.The investment scheme was also endorsed by TV personality Somizi Mhlongo.
  • This is not the first time that Lamba has been running a company that wasn’t registered.
  • A number of years ago, he had a company named Godforth Life Assurance, which, among other things, sold funeral policies and insurance to young people.

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