Forex Trader Scams Principal of R1 million

By: Sthulile Mdletshe

Bitcoin trader and founder of Global Forex Institute, Sandile Shezi has been arrested on allegations of fraud.

The 29-Year-old handed himself over to police yesterday after a warrant for his arrest was issued.

Shezi’s legal representation says he is innocent despite multiple people coming out and stating that they have been duped by the self-proclaimed millionaire.

These include a school principal who is accusing Shezi of defrauding him of R1.3 million. His business partner, as well as an investor, has also come forward, saying he was defrauded of R500 000.

Several other people have disclosed that they invested into Shezi’s company GFI believing that it was a platform to teach students about trading.

Shezi is scheduled to appear at the Randburg Magistrate’s Court today.