Cape Town – A 32-year-old man employed at a forex company, Nhlakanipho Nyembe, appeared in court on Monday on theft charges.
“It is alleged that during the period between 13 November 2017 and 30 May 2018, Nyembe was employed at a company called Global Forex Institute (GFI) as a mentor who reportedly provided education services to clients in relation to the Forex Exchange Markets.
“It is further alleged that Nyembe mentioned to the clients that he invented a robot software program that would trade on their behalf as investors while they are learning how to trade with forex. A single robot was sold at R100 000 each and Nyembe reportedly sold three robots to three clients thus making him receive R300 000,” police spokesperson Warrant Officer Ndiphiwe Mhlakuvana said.
However, it was discovered that GFI had not sold any such robots, nor had they authorised Nyembe to do so
“The clients lodged a complaint with the Hawks and investigations revealed that GIF never sold any robots to their clients and never authorised Nyembe to sell robots on their behalf either. Nyembe was traced and found in New Castle where he was served with summons to appear in Gqeberha New Law court on 18 September 2023,” said Mhlakuvana.
The case was adjourned to October 9 for an attorney’s appearance.
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Compiled by Betha Madhomu
