More sun than clouds. We speak to one of South Africa's youngest millionaires, Sandile Shezi. Watch him tell us what his plans are for his forex trading company, Global Forex Institute.
Johannesburg - South Africa's "youngest self-made millionaire" has been accused of plagiarising his training company's course material and falsely claiming to have made R30 million in profit. After year-old Sandile Shezi shared his success story in the media, several industry players contacted News24 raising suspicion over the operations of his company Global Forex Institute GFI.
GFI provides training in currency trading with delegates sometimes shown an account reflecting a R30 million profit and told they would be taught how to do the same. Questions have been raised about the account's legitimacy and whether it actually belongs to GFI, as claimed on its Facebook page, where a post says: You will get to meet the nr1 ranked trader in Africa and we will show you how we made R30 million then you copy our strategy! After attending a free GFI class, delegates were offered an advanced course, believed to cost around R4 Everything apparently gets paid for in cash, a source familiar with their operations told News The GFI has also been accused of using plagiarised material to present its courses.
Some sections of the notes the GFI uses to train clients appear to be plagiarised from a site called BabyPips, a free beginner's guide to forex trading. News24 has seen copies of some sections of the GFI's notes and they appear to be identical to notes on the BabyPips website. Shezi said this was a serious allegation and the modules had been compiled for them before GFI was established. I could not find any 'plagiarised' sentences.
I did however notice some of the pictures looked very similar," he told News We have already started using our new training manual. Its website punts it as their "broker of choice because they are an international broker with a fully functional office in Sandton They are [Financial Services Board] regulated and have won multiple awards. About this, Shezi told News24 last month: Until the issue is resolved we are sending our clients to IronFX. IronFX is another forex broker and Shezi's site mentions it was also one of the biggest in the world.
ACM Gold's spokesperson Robyn Francis told News24 at the time the licence was temporarily withdrawn pending an investigation into a former client of theirs. We expect [the investigation] to be resolved by the end of the week. This has been the case since we received notice from the FSB.
Existing clients have full access to their funds which remain safe and secure. Francis told News24 on Friday the licence was still temporarily withdrawn and the FSB investigation was still on-going. Contributions of words or more will be considered for publication.
Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment. A new study revealed that men experience more emotional satisfaction with their male friends than they do out of romances. The Competition Commission of South Africa is conducting advocacy work in the South African automotive aftermarket industry and has gazetted a Draft Code of Conduct for public comment.
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GFI's notes appear to be identical to notes on the BabyPips website. We reserve editorial discretion to decide what will be published. Read our comments policy for guidelines on contributions.
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