Entrepreneur and self proclaimed youngest millionaire Sandile Shezi was arrested last week for fraud.
Shezi who is a crypto currency trader was arrested for failing to pay back another alleged victim’s money. He spent a night behind bars at Sandton Police station.
Last year there were reports that Shezi allegedly defrauded a Johannesburg businessman Allan Ledwaba of R500 000 which he invested in Shezi’s forex trading company.
This time around Shezi is being accused of defrauding Angel Mabena R200 000. She said Shezi lured her into investing with promises of reaping double returns.
Shezi has a company, Global Forex Institute where many investors have poured large sums of money in hopes of gaining double in profits.
The young flamboyant millionaire lives an extravagant lifestyle and he travels first class as he goes on vacations overseas.
His networth is estimated to be R2.8 million and he owns a fleet of fancy vehicles. These include a Lamborghini Gallardo, a Ferrari, Maserati, Mercedes Benz G-Class and a BMW i8.