June 13, 2021

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BORN RICH GROUP DIRECTOR ARRESTED FOR FRAUD AND CHARGED WITH 194 CHARGES

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Born Rich director arrested for fraud

Born Rich director arrested for fraud

Prince Nkosinathi Mazibuko (28) well known forex trade exchanger handed himself to the Hawks on Thursday 11 February 2021 and was charged with 194 charges of fraud alternatively theft, contravention of Bank Act, contravention of the Financial Institutions Act, contravention of the Financial Advisory and Intermediary Services Act.

During May and June 2015, Mazibuko allegedly lured victims to invest their monies in his company. He allegedly assured them that they will receive a monthly return of 80% of their invested capital.

However, Mazibuko never paid the promised monthly returns nor the interest back to the complainants. The total value involved is R 735 000.00. A case of fraud was reported at Pietermaritzburg police station and the case docket was allocated to the Hawks members from Pietermaritzburg Serious Commercial Crime Investigation for thorough investigation.

He will appear in the Durban Specialised Commercial Crime Court on 26 February 2021

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