Arrest warrant reportedly issued for "millionaire" Bitcoin trader

j4ck455

Executive Member
Joined
Jan 2, 2006
Messages
6,827
Ledwaba said he procured a R500,000 loan from his father, which he invested in Global Forex Institute.
Was that money legally amassed, or was this all part of a money laundering scheme that has backfired?
 

krycor

Honorary Master
Joined
Aug 4, 2005
Messages
18,538
How to make a small fortune with Bitcoin.
Start with a 1 million and get back R100000

Usually they say this about wine farms.. but I guess bitcoin is the millennial way which has a lower entry cost.
 

Unreal

Senior Member
Joined
Nov 24, 2006
Messages
612
This sounds like a civil matter between the two parties. Not everything is news worthy
 

boboudts

Well-Known Member
Joined
Mar 10, 2019
Messages
438
It’s called a Ponzi scheme….”a swindle in which a quick return, made up of money from new investors, on an initial investment lures the victim into much bigger risks”

Beware of young men driving Lamborghinis promising your the earth …. They are liars!
 

ubercal

Expert Member
Joined
Dec 5, 2005
Messages
3,085
ah this boy up to his nonsense again.I find his clientiele rather interesting.Seems 99% of his business comes from naïve young black people looking to try and make it rich quickly.He's clearly trying to sell them a dream that in reality will never happen.
 

MeestaR

Expert Member
Joined
Sep 17, 2016
Messages
1,624
Stay away from anything and anyone promoting crypto trading, it is just another currency trading, with the buzzword Bitcoin or crypto, plus dangerous volatility to boot. And profits? Oh please, like you are going to get huge ROI from cryptocurrencies like all those guys promise.

There's one saying: You cry when you buy crypto, you cry when you trade, and you cry when selling it. Profit or loss.
 

Blackhand

Senior Member
Joined
Dec 22, 2004
Messages
610
Exactly. There's no crypto, no forex, no trading.

Just one guy at the top of a ponzi scheme enriching himself. I do hope his own attempt at getting rich quick is finally coming back to bite him.
 

dusi

Senior Member
Joined
Nov 11, 2017
Messages
868
What's this got to do with Bitcoin? Sounds like it's one of those Forex affiliate / training course ponzi schemes, he runs a company called "Global Forex Institute". Simple background check on the company would reveal this has nothing to do with cryptocurrency. He made his millions through his forex trading ponzi scheme.

Global Forex Institute is a forex training institution that was established by the youngest self-made millionaire in South-Africa, Sandile Shezi. Shezi is formally from the dusty streets of Umlazi, a township situated in the South of Durban.

The 25 year old and his long time mentor George Van der Riet, being a trade master with trading experience in excess of 15 years, partnered up to start Global Forex Institute. It was born to create financial freedom and to address the high levels of unemployment in South Africa.

Global Forex Institute provides first hand training programmes that fully equips students for the forex trading world. This is one of the first institutions that offers a life time mentorship programme aimed at assisting students to be full time, successful forex traders.
 
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