Sandile Shezi of Global Forex Institute (GFI) has not yet been summoned by Sandton Police over fraud allegations.
The police announced last week that a warrant of arrest has been issued for the young KZN based millionaire.
This was revealed as more of his customers come forward with their claims of fraud.
Shezi told the Sunday Times that all the claims being made about him are false as GFI did not trade on behalf of clients. He said each client has their own trading account at HSBC.
Shezi said clients were given training on how to trade and were never traded for, as GFI is not licensed to trade on behalf of clients.
Shezi was responding after another client, Angel Mabena told the newspaper that she lost evething after she borrowed R200 000 from her family in 2018 to buy shares in GFI.
Mabena said after she attended his courses, Shezi convinced her to buy shares in GFI.
Mabena said Shezi paid her R5000 for 8 months, before the payments stopped.
Shezi blamed the Covid-19 pandemic for the low level of business.
Please read the full story in today’s Sunday Times newspaper – 17 October 2021.
