Old Mutual
Refusal of Payments

Last year (2012) i went to Old Mutual to open an investment account and i was assisted by Mr Tony Dacosta.
This year 2013 February, when i resigned, my aim was to pay all my debts, to my surprise he assigned me to a wrong documentation which i signed which stated that i cannot get a higher payment than the 1/3rd which is stated in the contract. Then i decided to cancel the investment (i was still withing the T & C cooling of period for the contract).
GPF had already made the payment to Old Mutual, so when Old mutual tried to return the funds back to GPF, GPF stated that they cannot receive back the fund as this is between Old Mutual and the client. I then told Mr Tony Dacosta (my financial adviser) to tell Old Mutual (his employer) to pay the fund into my personal bank account as already this is my money. This is when the mayhem arose when Old Mutual said that its not possible because their company policy does not allow this. (this did not make sense as my money is now floating around in old Mutual and im sinking in debts). they don't seem to have a system that can assist me and i keep getting throne from pillar to post all i want is my money all of it in my bank account.

Company: Old Mutual
Country: South Africa
City: Polokwane

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