Flashy KZN forex trader Prince Mazibhuko nabbed by the Hawks for 194 counts of fraud.
By Trésor_Botaka | self meida writer
Published 15 days ago - 1307 views
12 February 2020
13:56
Johannesburg, South Africa
Trésor Botaka
The head of a forex organization, which worked prevalently in northern KwaZulu-Natal, has been captured and charged on 194 checks of extortion, burglary and the contradiction of different monetary acts.
Multimillionaire and overseer of Born Rich Group, Prince Nkosinathi Mazibuko, 28, has been seized by a Hawks unit in Pietermaritzburg on Thursday subsequent to being presented with a summons.
Hawks representative Capt Simphiwe Mhlongo said Mazibuko confronted 194 checks of misrepresentation, robbery, repudiation of the Bank Act, negation of the Financial Institutions Act, and contradiction of the Financial Advisory and Intermediary Services Act.
“During May 2015 and June 2015, Mazibuko allegedly lured victims to invest their money in his company. He allegedly assured them that they would receive a monthly return of 80% of their invested capital. However, Mazibuko never paid the promised monthly returns or the interest back to the complainants.
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COMMENTS
VincentSithole_03
02-14 08:17:23
South African Government is failing SA citizens by just watching them being robbed by these heartless greedy people who scam people everyday,and these fake pastors but there is this thing called council of churches they don't do nothing to protect poor people.
COMMENTS
VincentSithole_03
02-14 08:17:23South African Government is failing SA citizens by just watching them being robbed by these heartless greedy people who scam people everyday,and these fake pastors but there is this thing called council of churches they don't do nothing to protect poor people.