SA’s youngest millionaire arrested for ‘fraud’
Sandile Shezi to appear in court for allegedly defrauding his business partner and shareholder in his business out of R500,000
SA’s youngest self-proclaimed millionaire Sandile Shezi has been arrested by police.
Gauteng police spokesperson Capt Mavela Masondo said Shezi, who has been charged with fraud, handed himself over in the presence of his lawyers on Wednesday.
“I can confirm that he has been arrested. He will appear in Randburg magistrate’s court tomorrow [Thursday] on charges of fraud.”
Shezi, who is from Durban, was charged for allegedly defrauding his business partner and shareholder in his business Global Forex Institute [GFI] out of R500,000.
GFI is marketed as a forex trading training institute, which trains people to set up their own trading platforms.
A warrant of arrest was issued earlier this month for Shezi, who is reportedly SA’s “youngest millionaire”, and has no qualms about showing off his Mercedes-Benz G-Wagon and Maserati.
In an interview with the Sunday Times last week Shezi denied any wrongdoing.