Sandile Shezi, South Africa's youngest self-proclaimed millionaire, has been detained. Shezi, who has been charged with fraud, turned himself in in the company of his attorneys on Wednesday, according to Gauteng police spokeswoman Capt Mavela Masondo. “I can confirm that he has been arrested. He will appear in Randburg magistrate’s court tomorrow [Thursday] on charges of fraud.”
Shezi, a Durban resident, was accused of cheating his business partner and shareholder in Global Forex Institute [GFI] of R500,000. GFI bills itself as a forex trading training institution that teaches customers how to build their own trading platforms. Shezi, who is reputedly SA's "youngest millionaire" and has no qualms about flaunting his Mercedes-Benz G-Wagon and Maserati, was served with an arrest warrant earlier this month.
He put all of that money in an account that he was instructed to put it in. According to the principal, Shezi used to pay him earnings every month until he stopped after a year. The principal then wanted to withdraw all of his money because he was no longer benefitting from the venture, and the suspect just gave him R100,000. Shezi's lawyer, Lloyd Moonean, argues that Ledwaba is now seeking to defame Shezi when he was the one who chose to sell an automobile given by Shezi for branding purposes.
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