Cryptocurrency investment scheme – Fraudster appears in court

South African Police Service

Cryptocurrency investment scheme – Fraudster appears in court
Cryptocurrency investment scheme - Fraudster appears in court

Sandlie Shezi (32) appeared before the Alexandra Magistrate’s Court on charges of fraud on Tuesday, 9 May 2023 after receiving a court summon.

It is reported that the complainant met Shezi through a friend and were both later invited to invest into Shezi’s cryptocurrency investment scheme (CIS).

The complainant received dividends a month after making an investment of R100 000 into his CIS, and later invested R500 000-00 after seeing the spectacular dividends that he was getting from his previous investment.

It was only after the R500 000-00 investment that he started to get half of his dividends and then close to nothing after a few months.

The complainant made several attempt to call Shezi to enquire about his dividends but he was unreachable.

A case was opened and transferred to the Johannesburg Hawks Serious Commercial Crime Investigation team for probing, investigation revealed that there were other similar cases opened against Shezi.

It is alleged that Shezi lured another complainant by means of radio and the complainant invested R1.2 million into his scheme.

Shezi handed himself to the authorities on Monday, 8 May 2023 and made his first court appearance on Tuesday, 9 May 2023 where he was granted R20 000-00 bail and the case was postponed to Friday, 9 June 2023 for further investigation.

The funds were never recovered.

SAPS Newsroom

SOURCESouth African Police Service