The statement was prompted after it was discovered that a website was falsely claiming that its investments were underwritten by deVere.
Green said: “Let me be absolutely clear, www.bottomlinegroup.co.za is not affiliated with, operated by, or owned by deVere Group. This is a blatant, and rather bad, attempt at trying to discredit our enviable reputation for providing our clients with a world-class, results-driven service.”
Describing the site as “incredibly amateur”, he added: “Besides the nonsensical investments, there is, for instance, not even the correct spelling of ‘deVere’, there are multiple examples of incorrect grammar, and it is vague in a way that a professional investment firm never would be.
“Yet despite the fact it is rather crude in every aspect, there is a very real danger that it could defraud the public, as well as bring the wider financial services industry in South Africa into disrepute.”
Alarming events
Referring to the website as the “latest in a series of alarming events”, Green said that it seems that his company is “coming under attack” in South Africa, with people “setting up fake sites and even creating fake client complaints”.
“It can be reasonably assumed this is from disgruntled former employees whose contracts we terminated and/or rival firms.
“It’s a sad reflection of some within the SA finance industry when they feel compelled to attack a proactive, forward-thinking, successful company such as deVere, which is fully authorised, regulated and licenced.”
Green stressed that neither deVere Group nor its wealth management arm, deVere Acuma, deals directly with client monies.
“This has been reported to the Financial Services Board (FSB) and I would urge anyone who has more information about this illegal practice to speak to either the police or the regulator as a matter of urgency.”
Earlier this month, deVere Group launched its own private bank on the Caribbean island of St Lucia.
