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South Africa’s Youngest Billionaire Arrested For Fraud

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A 23-year old self-proclaimed South Africa’s youngest billionaire, Sandile Shezi, has been arrested by the South African police.

The South African Police called Gauteng police sent a message through their spokesperson, Mavela Masondo, saying that Sandile Shezi handed himself over to them in the presence of his lawyers on yesterday, October 20th, 2021.

Sandile Shezi in South Africa

The Gauteng police charged him with fraud but he denied the accusation.

“I can confirm that we have arrested him. He will appear in Randburg magistrate court tomorrow on charges of fraud,” Gauteng police’s spokesperson said.

The 23-year old will face charges for allegedly defrauding a shareholder in a business called Global Forex Institute [GFI] out of R500,000 (14,165,892.76 Naira).

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Earlier this month, the South African police issued a warrant for the arrest of Sandile Shezi, before he handed himself over to the police.

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