Why the FAIS OMBUD is closing its files on Property Syndication Complaints

Why the FAIS OMBUD is closing its files on Property Syndication Complaints

The Office of the FAIS Ombud has decided it cannot successfully resolve historic complaints about property syndication schemes, and it has advised the complainants to take their cases to court. Advocate John Simpson, the FAIS Ombud, told Moonstone the decision was not because the Office lacked the capacity to address the large number of property syndication complaints. “If there was a reasonable prospect of resolving the matters, the Office would do the necessary to ensure it was done,” he said.

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