Reports from South Africa say the country’s police have now issued a warrant for the arrest of Sandile Shezi, a 29-year-old cryptocurrency trader. The warrant was issued after one Allan Ledwaba, an investor with Shezi’s Global Forex Institute, accused the cryptocurrency trader of swindling him out of more than $33,000 (R500,000).

Using Supercars to Woo Victims

According to a report by City Press, Ledwaba’s interactions with Shezi began soon after he attended one of the latter’s seminars where attendees were taught forex trading. Ledwaba alleges that he was shown a “trading account” belonging to Shezi which had over $5.9 million. The report adds that Shezi’s Ferraris and Lamborghinis were also used to entice Ledwaba.

Having been convinced by Shezi’s pitch, Ledwaba went on to procure a $33,000 loan from his father, which he invested in the crypto trader’s company. However, soon after investing, Ledwaba says he became suspicious. The report quotes Ledwaba explaining:

The agreement was that he would trade the…

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