Nhlakanipho Nyembe, a 32-year-old man who allegedly hosted classes educating people about foreign exchange (forex) markets, had his case of fraud postponed to October 9.
Nyembe appeared in the Gqeberha magistrate’s court on Monday where he was released on warning.
Nyembe was served with summons in August by the Gqeberha-based serious commercial crime investigation, which accused him of theft.
This after Nyembe was traced by the investigating team to Newcastle in northern KwaZulu-Natal.
According to the police, Nyembe was employed at a company called Global Forex Institute (GIF) between 2017 and 2018.
The company was owned by self-proclaimed forex trading millionaire Sandile Shezi, who was allegedly Nyembe’s mentor.
Nyembe reportedly provided lessons to his clients in relation to forex markets.
Hawks spokesperson Captain Yolisa Mgolodela said the allegations further state that Nyembe mentioned to clients that he invented a robot software program.
He allegedly told his clients that the program would trade on their behalf as investors while they were learning more tricks about forex trading.
“A single robot was sold at R100 000 and Nyembe reportedly sold three robots to clients, thus receiving R300 000,” said Mgolodela.
“The clients lodged a complaint with the Hawks and investigations revealed that the GIF never sold any robots to clients or authorised Nyembe to sell the robots on behalf of the company.”
Sunday World reported in May that Shezi was being investigated by the Hawks for allegedly scamming unsuspecting investors including a retired school principal.
Shezi’s victims were allegedly scammed after they made deposits into Global Forex Institute with hopes of earning high interests.
On top of various cases of fraud opened against him at the Sandton and Midrand police stations, Shezi is also being investigated by the Hawks in Pretoria.