The man who claimed to be from Sanlam Private Wealth and promised clients 36% returns debarred for 25 years and hit with R4.1 million fine
Johannes Lodewicus du Plessis, who falsely claimed to be from Sanlam Private Wealth, has been debarred for 25 years and hit with R4.1 million fine.
The issue dates back to 18 November 2024, when the Financial Sector Conduct Authority (FSCA) warned the public about Du Plessis.
The FSCA warned the public against conducting financial services business with Du Plessis or his company, JLD Investments.
JLD Investments allegedly offered to render financial services and promised unrealistic returns of up to 36% per annum to members of the public.
Furthermore, Du Plessis allegedly intentionally and incorrectly misrepresented himself as a representative or broker for Sanlam Private Wealth.
Sanlam Private Wealth has informed the FSCA that Du Plessis is not authorised to act as its representative.
Du Plessis and JLD Investments were also not authorised financial services providers (FSP), as required by the Financial Sector Conduct Authority.
The FSCA launched an investigation into the allegations to establish whether Du Plessis and JLD Investments contravened financial sector laws.
The investigation also focused on whether Du Plessis, through his company, conducted an unregistered financial services business.
At the time, the FSCA highlighted that its investigation was not yet complete and that it had made no findings.
“This public warning should not be construed as a communication of the findings of the FSCA,” the authority said.
Johannes du Plessis debarred and hit with R4.1 million fine
On Monday, 26 October 2026, the Financial Sector Conduct Authority announced that it had taken action against Du Plessis.
The FSCA said that its investigation, which started two years ago, has been finalised and that, based on its findings, it has taken action.
The FSCA has decided to impose an administrative penalty of R4.1 million on Du Plessis and debar him for 25 years.
The investigation found that from June 2022 to November 2025, Du Plessis collected funds from his clients.
He then, on their behalf, traded in equities available on the Sanlam Private Wealth (SPW) iTrade trading platform.
Du Plessis further authored and distributed welcome letters and investment statements to his clients.
The welcome letters and statements purported to be from Sanlam Private Wealth in that they were prepared on the company’s letterhead and contained its FSP number.
“By doing this, Du Plessis misrepresented to his clients that he was appointed to act as SPW’s representative, while he in fact was not,” the FSCA said.
“Thus, Du Plessis rendered discretionary intermediary services in respect of a financial product without the requisite authorisation.”
Finally, during the investigation, Du Plessis furnished the investigators with false and misleading information.
The FSCA has concluded that Du Plessis materially contravened numerous financial sector laws.
It has appointed Aubrey Magerman of Magermans Attorneys as curator over the financial services business of Du Plessis and JLD Investment.
“The curatorship is ongoing and nearing completion. All affected clients are encouraged to approach the curator for their claims to be assessed,” the FSCA said.
The FSCA will now formally bring this matter to the attention of the South African Police Service (SAPS) and will provide assistance in the investigation if requested.
