Monday, October 28, 2019


Dear Readers,
          As if a death threat was not enough Rowena James has also been maliciously maligned on Facebook. In addition she says she has evidence that indicates that the statement she gave to the Directorate for Priority Crime Investigations (The Hawks) was leaked to the very people she is complaining about.
          All this is because this 51 year old divorcee has been extolling the aims of a pack of 400 people that is growing daily determined to hunt down Malcolm De Beer the master mind behind the Coin-It and CommEx ponzi schemes. Coin-It alone is estimated to have taken 27 000 people for something like R2.5 billion.
          Rowena herself was a victim of Coin-It, although her R60 000 loss was perhaps one of the smallest amounts among this huge number of people, who put their faith in Coin-It before it was closed by the Financial Service Conduct Authority (FSCA).
          She antagonised the Dundee, KwaZule-Natal promoters when she started an on-line Facebook Group headed: Coin-It and CommEx – The Truth. This was to encourage investors to co-operate with the Hawks investigators brought in by the FSCA.
          “I believe what really sent them over the edge was the action FSCA took and the serving of papers on Malcolm to appear in the Pietermaritzburg High court this week,” she told me.
          “Our group have each put in R350 to employ a firm of attorneys and the advocate they have appointed will be making an application to liquidated Coin-It in the hope that we can recover money for the investors. Many pensions, retrenchment packages and life savings have gone, not to mention the money from those who took personal loans to finance their investments.
          “They are from all over the country, mostly from KwaZulu-Natal with some from the Western and Eastern Cape and Polokwane.”
          In a press release issue by the FSCA to update Coin-It investors it stated that it had become aware that Coin-It was trying to get its investors to have their contracts transferred to other associated companies.
          It warned them not to enter into any financial arrangements with unauthorised entities associated with Coin-It.
          The FSCA launched an investigation in August into Coin-It and CommEx Minerals for suspected breaches of financial sector laws. This involved a search and seizure operation of the Dundee premises of these firms followed by the opening of a case with the Hawks for further investigation. The Asset Forfeiture Unit had also obtained a preservation order against bank accounts linked to the parties being investigated.
          “Neither Coin-It or CommEx nor its directors Mr Michael Andrew Anthony de Beer (Coin-It) and Mrs Patricia Ursula de Beer (CommEx) are licensed to conduct any financial services or to receive deposits from the public,” the statement added. Mrs Patricia Ursula De Beer is the ex-wife of Malcolm Henry de Beer, the founder of Coin-It and still the person running the its day to day operations. 
                                 (Heartless Sunday Times)                    
          Some weeks ago on Facebook Sibonelo Khulu Coin-It’s Brand manager described Rowena as a “racist who is scavenging on black people’s bloods.” He maintained that being “fully paid up after her 3 year circle with Coin-It she is busy misleading them with all sorts of nonsensical updates so they won’t become rich like herself.” He blamed her for complaining to the FSCA and called her “a heartless racist.”
          In her reply on Facebook Rowena included copies of the contracts for the two trucks she bought and stated that she would be happy to receive a R400 000 cash settlement for them as she suspected they did not exist.
          “The person who originated the complaint to FSCA was from Cape Town,” she continued. “I’m from Durban so that’s yet another thumb suck you have spread. Like a good citizen I have given the FSCA and the Hawks my full cooperation.
          “Mr Khulu you obviously know that these investors you have successfully misled and still are misleading will soon be locking you away as you have a lot to answer for.”
          She told me she had been alarmed on the evening of 24 October when she discovered that Sibonelo, known as Khulu the Man on social media, had distributed her home address with two voice notes in Zulu. The first one was from an unknown woman who asked for her address as she knew people in Durban who wanted to teach Rowena a lesson. And the second one was death threat.
          “Almost as alarming was the fact that he was distributing copies of the statement I made to the Commercial Crime Unit in Durban,” she said.
          She has lodged a complaint about this to the prosecuting authorities in Pietermaritzburg and it has been passed to the Serious Commercial Crimes Unit.
          “It’s clear that this case has now been compromised and my life is in danger.” she stated.
          Attached to her complaint were screen shots of what she says were copies of her statement that Khulu distributed on social media.
          Rowena was not the originator of the group that wants to liquidate Coin-It. She heard about it on WhatsApp and decided to join it.
          Jon, a Consumer Watchdog who believes not enough is being done by our enforcement agencies to ensure that the crooks behind these ponzi schemes end up in jail for a long time. And if you can’t trust the police, even at the highest level, it becomes very scary.
P.S. Rowena is to be congratulated for really sticking her neck out by taking a stand against these shysters, especially in the social media jungle where just about anything goes. Too many people complain bitterly about something, but when the time comes to stand up to be counted they are nowhere to be found.
P.P.S. The money Coin-It investors paid was supposed to have bought them trucks to earn them an impressive return on their investments, but all the indications were that these didn’t exist. CommEx was structured in much the same way only this time it involved the buying and selling of various minerals. 


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