The trial of self-proclaimed youngest millionaire and presidential hopeful Sandile Shezi, who is accused of fraud amounting to R1.2-million, is set to begin on July 7.
Shezi, who is out on R20 000 bail, appeared at the Wynberg magistrate’s court on Tuesday where his case was postponed to July.
The self-proclaimed foreign exchange (forex) trading guru who reportedly made his first million rands from trading at the age of 23 did not have much to say when he appeared briefly with his lawyer.
He was arrested a week after launching his new political party Vuka Ma-Africa in May.
His victims were allegedly scammed after they made deposits into his forex trading company Global Forex Institute with the hope that they will get high interest returns.
In one of the cases opened in 2022, Shezi allegedly defrauded a Limpopo principal of over R1-million in his pension payout in 2019, after promising the retired principal that he will receive his money back with interests.
The principal, who asked not to be identified for fear of humiliation, previously told Sunday World that he was scammed by the flashy forex trader after he met him at one of his seminars at Meropa Casino outside Polokwane in Limpopo.
He said: “He has not paid me back until this day. I only saw through the media that he is opening a political party, which is a slap in the face for us people who were scammed by him.”
Late in 2022, Shezi promised to pay back the principal in tranches of R10 000 a week until the R1.2-million he owes was paid off. However, Shezi backtracked and blocked the pensioner from communicating with him.
In May, the troubled businessman announced that he will be standing for the presidency in the general elections scheduled for 2024. At 31 years old, Shezi will be the youngest person to contest to occupy the office of the president.
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