Forex ‘scammer’ Shezi back in business

It’s business as usual for fraud-accused forex trader Sandile Shezi who is expected to host another forex trading seminar in Umhlanga, north of Durban, on Saturday.

Shezi’s public appearance at the top hotel comes while he is in the middle of a legal storm from cases opened by various investors in his business. On February 6, he is set to appear at the Alexander magistrate’s court for allegedly scamming a retired principal of R1.2-million through his forex trading company three years ago.

However, Shezi and his business partner King Morake are starting the year on a high note by advertising their upcoming seminar through his social media pages this week.

The seminar, which is titled “the business meeting”, was scheduled to start at 10.30am on Saturday at the Fire and Ice hotel in Umhlanga. 

The meeting is held under what appears to be a new company, Friends & Family Alliance.

Last year, seven months after his arrest, Shezi’s wife Silindile Mkhize was arrested for her alleged involvement in his forex trading business, which saw people invest in his companies after she allegedly lured them through advertisements on radio and on her social media pages.

Mkhize was arrested in November on charges of fraud and money laundering. She was later released on R5 000 bail.

Principal lost his pension payout

In an open letter to Shezi last year, she pleaded with him to openly clear her name following her arrest.

“More than an apology, I seek your commitment to make things right and to rectify the shattered pieces. Justice for my name, I have worked very hard for my name, champion the cause of justice and rid my name of unwarranted accusations,” she pleaded.

Shezi, who at once was hailed as South Africa’s youngest self-made millionaire through forex trading, is facing charges of fraud after a Limpopo-based retired school principal opened a case against him after he was allegedly scammed.

He allegedly promised the principal high profits and dividends after he invested his pension payment into his company. The principal did not receive the profits.

The matter is back in court next week. 

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