Fais Ombud finds Sharemax directors liable for investor's loss

Fais Ombud Noluntu Bam has found four Sharemax directors liable for an investor’s loss.

The determination is unusual because it is normally only financial advisers who are held liable for bad investment advice.

However, in a lengthy determination, Bam has set out why she believes the Sharemax directors should be held accountable. The determination was signed on Tuesday. It can be downloaded in two parts here:

PART ONE

PART TWO


The determination could pave the way for thousands of other investors to claim losses from Sharemax’s directors.

For the full Moneyweb Article, go to:
http://www.moneyweb.co.za/moneyweb-special-investigations/fais-ombud-finds-sharemax-directors-liable-for-inv


Gareth Shepperson