Director of Born Rich Group, Prince Nkosinathi Mazibuko, 28, was arrested by members of the Hawks for defrauding people of a sum of R735,000 during 2015.The director of a forex company, which operated predominantly in northern KwaZulu-Natal, has been arrested and charged on 194 counts of fraud, theft and the contravention of various financial acts.
Multimillionaire and director of Born Rich Group, Prince Nkosinathi Mazibuko, 28, handed himself over to members of the Hawks' serious organised crime unit in Pietermaritzburg on Thursday after being served with a summons. Hawks spokesperson Capt Simphiwe Mhlongo said Mazibuko faced 194 counts of fraud, theft, contravention of the Bank Act, contravention of the Financial Institutions Act, and contravention of the Financial Advisory and Intermediary Services Act.
“During May 2015 and June 2015, Mazibuko allegedly lured victims to invest their money in his company. He allegedly assured them that they would receive a monthly return of 80% of their invested capital. However, Mazibuko never paid the promised monthly returns or the interest back to the complainants.
Would you please follow up on the case of Moral Monareng of MMFT trading who ran away with millions of poor people promising to better their lives.
What this Forex investing thing,I only know cryptocurrency 😄
80% return every week? They deserve to be scammed!
HE BLEW IT
Still going with this lie because he responded and you said nothing
the aim is to put black people down. smyou should see Sunday bloody times article about Timi
Halala
Nigga gonna spend like 3 years in prison
sbngmjl In as much as I know a little about the back up story about guys of trading and their scams but I don't believe in propaganda,Mazibuko is not arrested nor served with summons,the guy is at home chilling with his fam and he an't even living that flashy life anymore, also not broke
Please investigate what happened to case of prophet Moral Monareng who also scammed people their millions using MMFT forex company
The hustler
As I wait for the same article on a white person
Mhhh 🙆♀️
Always the same common denominator
as you would at the tracks or at the casino oh...unless if its a Ponzi scheme disguised as forex investing and you are one of the early investors.
This was just inevitable, if you pay attention that is. I bet he has siphoned many unwitting investor 💴. I guess the saying “the is a sucker born every day” is true. Well there is also a fraudster born every day. You have an equal chance of making it big in Forex as you would...
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Fraudster. Jail time. 80% return per month? Movies stuff.
Scammers vele
This is exactly what these things do. Wether they are in government or private sector. They like to steal so they can buy flashy worldly possessions with other people's money.
It was worth the risk
Is this one of those irritating fools always posting free adverts on threads here on Twitter? The ones that talk about changing someone's life, and making them rich?
This article is confusing to me. The headline says that the guy has been arrested. However the article says that he handed himself to the police after he was served with summons! Summons and arrest are two different processes aimed at bringing the accused to the court. Which...
Thank you!