Sandile Shezi, SA’s youngest millionaire, may have to hand himself over to the police soon after a warrant for his arrest was issued last week.
Sandile Shezi, owner of the Global Forex Institute company, is accused of taking hundreds of thousands of rands from his alleged victims and he is now wanted on charges of fraud.
One unlucky client was apparently duped into giving Mr. Shezi R500 000 upon an agreement that he would use the money to trade wisely on international currency markets and deliver higher returns, however alarm bells went off when it was suggested the contracts signed by Sandile Shezi and his customers were fake.
The law firm, initially believed to have handled the paperwork, said that they had no relationship with Sandile Shezi and the matter soon found itself on the Hawks’ radar. Shezi has kept a low profile since the allegations were made but on Friday he released a statement from his lawyers.
HL Legal asserts that claims made against Shezi in one news article on Sunday 10 October are false, and they are preparing a counter-case against certain individuals. However other reports claim that he will soon turn himself in.
“We have noted the false allegations that were published by the City Press on 10 October. Our legal team is carefully studying the allegations and have begun with legal proceedings against a few individuals involved in this matter. It is unfortunate that Sandile Shezi learned of criminal proceedings through the media, as no court process was served on him. We choose not to elaborate at this stage, as we are currently dealing with the matter, and a follow up statement will be released in due course. Thank you.” HL Legal Statement
Sources: MSN, MataMedia7
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