First On EWN: Scam exposed
DTS Moneyline Trading has been accused of defrauding its clients.
JOHANNESBURG - A stock exchange investment company has been accused of defrauding numerous clients by allegedly abusing their bank accounts.
DTS Moneyline Trading which operates out of Centurion, promised its clients large financial returns through stock monitoring software and advice.
But one of the company's recent clients approached Eyewitness News and claimed that thousands of Rands was stolen from his account within an hour of signing up with the company.
Gary Coton said he was called a few weeks ago by the company, and despite not ever hearing of them, agreed to a meeting with one of its employees.
Coton was given a contract which stated his account would be debited for around R300 a month - the money was to be allegedly used to pay for the monitoring software and stock advice.
But within an hour of signing up, Coton's bank account was drained.
The company have refuted his claim after he tried to cancel the contract.
Now, Coton said an allegedly volatile financial situation at home has been exacerbated by what he and his lawyer have labelled a scam.
"I am hurt. I have let my wife and son down by being caught by this."
His lawyer, Marina Constace, said a case of fraud has been opened.
The company has not been available for comment.
NOTE: For anyone else who has been affected by DTS Moneyline Trading, please email us at email@example.com