People who lost money in dealing with Classic Financial Services One (Pty) Ltd must lodge a claim with the High Court, or the preserved funds will be forfeit to the state, according to a statement from the FSCA on 10 May.
The National Prosecuting Authority’s Asset Forfeiture Unit (AFU) successfully applied for preservation orders regarding funds – totalling about R19 million – deposited into Classic Financial Services One’s bank accounts.
The AFU intends to apply for final forfeiture orders in respect of the preserved funds, as well as the appointment of a curator, who will attend to the distribution of the preserved funds.
Investors who suffered a loss in their dealings with Classic may lodge a claim against the preserved funds for consideration by the curator. This should be done by lodging a formal application with the High Court in Johannesburg to have funds excluded from the final forfeiture orders as prescribed by the Prevention of Organised Crime Act and the Rules of Court.
FSCA suspects a Ponzi scheme
In November 2022, the FSCA warned the public “to act with caution” when conducting any financial services-related business with Classic Financial Services One and its director, Jacobus Stephanus Geldenhuis. The FSCA said neither Classic nor Geldenhuis were authorised to provide financial advice or render intermediary services in terms of the FAIS Act.
The FSCA said it conducted a search-and-seizure operation at the premises of Classic on 12 October 2022. The operation was part of an investigation by the FSCA into the business activities of Classic and Geldenhuis following complaints by the public.
“The evidence that the FSCA has collected to date indicates that Mr Geldenhuis may be conducting a Ponzi scheme,” the Authority said.
Co-operation between the FSCA and the Financial Intelligence Centre (FIC) led to the FIC issuing directives to Absa, First National Bank and Nedbank to freeze the funds in Classic’s bank accounts. The FSCA also reported the matter to the AFU, which successfully applied for the preservation orders.
The collaboration between the FIC, the AFU and the FSCA led to the safeguarding of some of the clients’ funds.
Process to file an application
Investors who believe they have a claim against the preserved funds must bring an application to the High Court for such funds not to be forfeited.
The FSCA has published copies of the documents filed by the AFU in support of the first preservation and forfeiture applications on its website, which can be accessed here. Copies of the documents filed by the AFU in support of the second preservation and forfeiture applications will be published in due course.
The process to file an exclusion application is described in paragraphs 14 to 17 of the document called “Draft Order”. It is important that an application is filed no later than 45 days after publication of the forfeiture order in the Government Gazette.
“However, investors are invited to file their exclusion applications as soon as possible; investors need not wait for the forfeiture order to be granted,” the FSCA said.
The details of the court case are:
- Court: High Court, Gauteng Division Johannesburg
- Case number: 2022-036292
- Applicant: National Director of Public Prosecutions
- Respondents: Jacobus Stephanus Geldenhuis, Jacoba Magdalena Geldenhuis, Classic Financial Services (One) (Pty) Ltd, Murry Pierce Kligour
- Attorneys for the applicant: Mr E Machethe; telephone 011 220 4121; email EMachethe@npa.gov.za
The FSCA emphasised that only the claims of investors who bring an application via the court will be considered by the curator.
It is also important to note that applying for a forfeiture exclusion does not prevent an aggrieved person from pursuing any other civil remedy.
Where can we get the claim forms?
I suggest you email the NPA’s attorneys.
Good day
Did you receive claim forms? i tried searching for it and cannot find it
No, I did not. Please email the NPA’s attorneys.
Stuur my asb n whatsapp 0824492727
NPA attorneys how do we contact them, number we have just rings no one answers
There is an email address for the attorneys.
Stuur aan vir my n whatsapp 0824492727
We are filing documents on behalf of clients, you can contact us at 0729735436 or office@kosterlaw.co.za.
Regards
Koster Attorneys
There is no claim forms
u will have to take the legal route,
its a high court application.
exclusion application can only be done through high court
Correct. Law firm Koster is helping investors to draft affidavits and intends to lodge applications with the court. Please contact them.
Hi all we are from Pretoria/Witbank.
We are applying as a group to keep the cost down. If you want to be part of the group, I will send you all the information needed to apply. Please note that we will start with the submission next week and all documentation must be submitted by Sunday 28 May. Please call me on 072 701 8485 for more information.
sueserf@gmail.com
Wil ook eis insit teen Classic … enige raad of kan ons groepie nog by julle aansluit
Susan serfontein
Hi Hilda.
Please contact me in connection about putting a claim in for the forefieture money (Classic Financial Services One).
Please there are about 6 of us who want to put claims in.
When will it be Gazetted apparenly we have 45 days after the gazaetted date to put a claim in.
Kind regards
Willie
Hi Hilda
I only just started the process, is it now too late?
Join our face book group
Classic financial scam
For everybody who have been scammed by cobus geldenhuis
I am an investor who has been scammed by Classic Invest one and Mr Jacobus Geldenhuis.
I had a considerable capital sum invested with Classic Invest and I would like to lay a claim for the recovery of my funds.
Please contact me soonest. Kind regards Mark Whittaker.
I invested money 6years ago at classicon applied 2weeks back for a amount but receive nothing Cobus keep saying it is inproses i would like to lay a claim to recover my funds.plaese contac me
Who can help us recover our investment via a claim? Invested a substantial amount.
Koster Attorneys in Pretoria is filing applications on behalf of investors: https://kosterlaw.co.za/
Ek het R40000 in Desember 2022 bele.Glo nie dit gaan die moeiete werd wees om te uis nie Vir wat ek gaan uit kry en die onkostes gaan ek maar die los vat.
Can we also file criminal charges? what is the process?
Pls can anyone advice.
It seems Mr Geldenhuys was debarred 2001? Why was nothing done?
?
Kobus Geldenhuis jou skelm bliksem al moet ek my geld uit jou uit wurg Sal ek dit terugkry.Jy was skelm met voorbedagde Dade.
I submit my information via Jaco Venter who is mentioned by trying to get assets back. I also submit it via Salomien. Both lawyers working on the case no feedback from them
. Even out of the reports regarding the criminal case nothing is on feedback.
Is there somebody that can give positive feedback as Geldenhuis is sitting with more than a million rand of me..
He rip me of my pension after 6 years of trust.