Bitcoin Fraudster Makes

Sandile Shezi, a South African bitcoin trader, was recently in court before a Johannesburg magistrate.

Shezi Out on Bail

Just days after making his promise to surrender to the police, the bitcoin trader appeared in court. According to Sowetan’s report, Shezi is currently out on bail and will return to court on November 24, according to their report.

Bitcoin.com News reported that Shezi faces fraud charges stemming from the failure to honor promises he made in return to Allan Ledwaba (an investor in the latter’s Global Forex Institute).

Although Shezi denied the allegations repeatedly, Ledwaba along with an unnamed investor filed complaints against Shezi. These complaints culminated in the issuing of a warrant for the arrest of the bitcoin trader.

Ledwaba is quoted in the report as commenting on Shezi’s arrest and subsequent court appearance.

According to Sowetan, Shezi had already resigned from the company by the time he was handed over to the police. The report doesn’t explain why Shezi decided to resign prior to being handed over.

By Alex Alena

Alex Alena has been the lead news writer at Cryptocurrency Updates. With a degree in communications, Matt has an uncanny ability to make the most complex subject matter easy to understand.