South African police is searching for a person named Sandile Shezi, a crypto trader from South Africa because he has been identified as a crypto fraudster and his warrants of arrest have been secured by the police. A complainant named Allan Ledwaba lodged a complaint against Shezi of committing a crypto fraud on him involving more than US$ 33,000.
Allan Ledwaba, a South African crypto investor, claims himself to be a victim of crypto fraud. He has accused a person named Sandile Shezi of a crypto fraudster who caused him a loss of more than US$ 33,000.
Ledwaba told the local police that he was introduced to the accused namely Shezi in a seminar hosted by the accused. During this seminar, the attendants were taught how to carry out crypto forex trading and what are their benefits. In order to show how benefitting forex trading could be, Shezi showed the balance sheet of his personal trading account on the projector. The account had approximately US$ 6 Million, said Ledwaba. Apart from having huge funds in his account, Shezi also showed Ledwada his luxurious sports cars such as Lamborghini and Ferrari.
Consequently, Ledwaba was convinced enough to decide that he should join Shezi in the forex trading business. Shezi accepted Ledwaba’s offer and asked him to arrange US$ 33,000 which Ledwaba did after borrowing money from his father. The borrowed money was then invested in the company namely Global Forex Institute. This forex trading firm was involved in the crypto trading business and Shezi was its sole proprietor, told Ledwaba.
Both, Shezi and Ledwaba, agreed that Shezi would do all the trading on his and on behalf of Ledwaba. At the end of every 12 months period, Ledwaba will be paid annual profits along with the funds that were actually invested by Ledwaba. The business arrangement was duly executed in the contract through a local law firm’s alleged partner. However, after signing the contract, when Ledwaba searched for the law firm, he became doubtful. The person claiming to be a law firm’s partner was nowhere in the list of partners available on the law firm’s website.
Ledwaba then paid a personal visit to the law firm and enquired about the person who got his contract executed. However, the firm denied having any knowledge about the person nor was there any partner by his name. At that moment in time, Ledwaba came to know that a fraud has been committed on him.
Now Ledwaba has lodged a police complaint and has successfully convinced local police to secure warrants of Shezi’s arrest. The police is now looking for the accused who will be arrested and brought before the magistrate for imposing charges. Ledwaba also told that he became a partner with Shezi five years ago. During this time period, he has only received US$ 2,600 against his investment in contravention of what was agreed in the agreement.