10/03/2026
PUBLIC STATEMENT: UNAUTHORISED “MYWEALTH” TELEGRAM GROUPS, IMPERSONATION SCAMS, BUSINESS RESCUE COMMUNICATIONS, AND MEDIA RESPONSIBILITY
To Whom It May Concern
MyWealth notes the recent public reporting concerning Telegram groups and social-media activity purporting to be associated with “MyWealth” and/or “MyWealth Method”.
MyWealth hereby records, unequivocally and for the avoidance of all doubt, that any such Telegram groups, invitations, social-media solicitations, spam messages, or investment promotions that use the MyWealth name, branding, profile images, media, or the names or likenesses of persons associated with MyWealth, but which do not emanate from MyWealth’s established and verified channels, are unauthorised and not affiliated with MyWealth in any manner whatsoever.
These communications constitute, on their face, an unlawful impersonation and misuse of the MyWealth identity, brand, and associated persons for fraudulent or deceptive purposes.
MyWealth further confirms that it does not solicit investments by way of Telegram groups, unsolicited invitations, spam messages, or “deposit and earn”, “guaranteed return”, “48-hour withdrawal”, or similarly aggressive promotional tactics. Any person or entity making such representations, whether by using familiar names, profile photographs, copied content, or branding associated with MyWealth, acts without authority and should be treated with extreme caution.
This is not a novel or isolated phenomenon. The Financial Sector Conduct Authority has itself published public warnings concerning fraudulent Telegram groups and impersonation scams involving recognised firms and individuals, including warnings relating to Telegram channels impersonating Old Mutual, FirstRand, and Dr Leila Fourie. These warnings confirm a broader pattern in which scammers misuse the names, images, and reputations of legitimate entities or public figures in order to induce members of the public to part with funds.
The MyWealth community has repeatedly and proactively been warned of precisely these risks. MyWealth has on numerous occasions circulated notices advising members that:
• MyWealth is not affiliated with cloned or fraudulent groups;
• members should not engage with unsolicited investment solicitations;
• members should not deposit funds on the strength of Telegram messages or social-media invitations; and
• all communications should be independently verified through known and established channels.
Accordingly, any attempt to attribute these impersonation scams to MyWealth, its directors, representatives, or community structures, absent proper factual verification, is false, misleading, and prejudicial.
MyWealth further records that, as matters presently stand, the MyWealth group is under business rescue. Any member of the public, stakeholder, or interested person who has questions relating to the group, its position, or the relevant process should direct such queries through the official business rescue channels to the duly appointed Business Rescue Practitioner, who has, throughout the course of the business rescue process, engaged with stakeholders in the ordinary discharge of his functions.
MyWealth also records its position that, during the business rescue process, active engagement has taken place with the FSCA and with the relevant Tribunal processes for the purpose of addressing the allegations and issues that have arisen, and of bringing these matters to proper finality through lawful and orderly process. MyWealth remains optimistic that these engagements will result in a fair and constructive resolution for all affected parties.
At the same time, MyWealth expresses serious concern regarding the manner in which certain media reporting has handled this subject matter. Where allegations of this nature are published without adequate verification, without proper distinction between unauthorised impersonation scams and genuine MyWealth activity, and without first affording the affected parties a fair opportunity to comment meaningfully on the record, the result is avoidable reputational harm and public confusion.
It is both surprising and disappointing that greater care was not exercised to verify the relevant facts, particularly in circumstances where impersonation scams of this nature are already widely known and have been the subject of public warnings by regulators themselves. Responsible journalism requires verification, context, and fairness, especially where publication may materially prejudice individuals, companies, communities, and ongoing legal or regulatory processes.
MyWealth therefore places on record that any person, entity, publisher, platform, or company that publishes, republishes, circulates, endorses, or otherwise propagates false, misleading, defamatory, or unverified allegations purporting to link MyWealth, its directors, or associated persons to fraudulent impersonation schemes, without proper factual foundation and without reasonable verification, may expose itself to legal liability for the damages caused thereby. MyWealth expressly reserves all of its rights in this regard, including its rights to pursue appropriate legal remedies to the fullest extent permitted by law.
For the protection of the public, MyWealth reiterates the following:
• do not engage with unsolicited Telegram or social-media investment offers;
• do not deposit funds in response to messages using the MyWealth name unless independently verified through trusted channels;
• do not assume authenticity from profile photographs, copied branding, forwarded messages, or references to known persons; and
• where clarification is required, use only established official channels or the business rescue communication channels.
This statement is issued in the public interest, for clarification, consumer protection, and the protection of MyWealth, its stakeholders, and the broader public against impersonation-based fraud. All rights are expressly reserved.
