MASERU – The Central Bank of Lesotho (CBL) has warned members of the public to refrain from having any dealings with a company called EASE in a bid to curb money laundering and fraud.
business
Aug. 2, 2019
STAFF REPORTER
2 min read
CBL issues warning about fraudulent company
CBL warned the public against forex trading saying the individuals who were running such companies were not licensed.
According to a statement released by the CBL’s corporate communication office, EASE is currently inviting people to buy shares from it on the pretext that it is in the process of registering a stock exchange with the CBL. The CBL has therefore advised the public to desist from engaging in any business with the company as it is not a licensed institution and is as a result not allowed to receive deposits from the public. The statements shows that the financial regulator is engaged with law enforcement agencies to look into the EASE’s affairs. The bank therefore advises the public to exercise utmost caution with its hard-earned monies. The public is advised to be careful with their hard earned money and to enter into agreements that involve money only with licensed financial institutions.
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Meanwhile, in June last year CBL warned the public against forex trading saying the individuals who were running such companies were not licensed. Later last year a 25-year-old David Tumelo Hlazi of Masite, Rothe briefly appeared before the Maseru Magistrate’s Court accused of contravening provisions of the Financial Institutions Act. It is alleged that between October 2017 and September 2018 Hlazi operated as Hlazville Consultancy and without a license, he unlawfully accepted deposits from the public as Hlazville Forex Trading during incidents that happened at Maseru City Centre. Hlazi was, however granted free bail and the case is yet to be heard in court.
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