The news in brief
FSCA completed an investigation and announced an administrative penalty and debarment.
The Financial Sector Conduct Authority has concluded its investigation into Johannes Lodewicus Du Plessis and announced an administrative penalty of R4.1 million and a 25-year debarment (FSCA, 26 October 2026). These are regulatory measures, not a criminal conviction.
According to the FSCA, Du Plessis used client funds to trade shares on the Sanlam Private Wealth iTrade platform without the required authorisation. He issued welcome letters and investment statements carrying the genuine firm’s letterhead and provider number, falsely suggesting that he was its representative. The finding concerns Du Plessis’s own conduct; it is not an allegation that Sanlam Private Wealth ran the scheme (FSCA findings).
For affected clients, the continuing curatorship is a separate matter from the penalty. The FSCA says clients should approach the appointed curator to have their claims assessed. An administrative penalty is payable to the regulator, and it does not in itself determine how much an individual investor will recover (Financial Sector Regulation Act, section 167(1)). The regulator also says it will refer the matter to the police.
Keep contracts, account statements, payment records and the messages used to solicit the investment. The FSCA announcement identifies the appointed curator and provides the contact details for affected clients. Before dealing with an intermediary, use the FSCA provider search and confirm independently that the person is connected with the authorised business. A copied provider number does not prove that connection.
Going further
This news item is part of a broader topic, which our page South Africa: personal data, romance scams and identity theft covers in detail.
Read the page: South Africa: personal data, romance scams and identity theft