Rob Rose Editor: Financial Mail

If it seems that there’s been a spate of investment scams doing the rounds, it’s probably not a coincidence. A few weeks ago it was the revelation that Martin Levick, the former CEO of Genesis Capital, allegedly duped friends as well as savvy businessmen — including Brait founder Antony Ball — out of more than R700m.

This week, it was the turn of Thomas Stringfellow, a silver-tongued 49-year-old who worked as a financial adviser at FNB until 2005, when he left to set up his Stringfellow Group. While Stringfellow ran two unit trust funds (in which R130m was invested), he also, on the side, enticed investors to "lend" money to finance the SA franchise of Australian sportswear brand Lorna Jane, run by him and his wife...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now