Forex Boss Who Flexed Hard with Cars, Clothes Arrested for Fraud

Friday, February 12, 2021 at 4:48 PM by Samantha Riddle

- Prince Nkosinathi Mazibuko, multimillionaire and director of Born Rich Group, has reached the end of his line

- The forex company owner has been arrested and is facing 194 charges of fraud, theft and other crimes

- Mazibuko led a flashy life boasting on a regular basis to his social media followers

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Prince Nkosinathi Mazibuko, 28, is a multimillionaire and director of the Born Rich Group leading a flashy life especially if you followed him on social media.

Mainstream — Mazibuko flexed expensive cars and clothing on social media regularly. Image: Prince Nkosinathi Mazibuko
Source: Instagram

The forex company director, operating mostly in KwaZulu-Natal, has been arrested and is facing a staggering 194 charges of fraud, theft and contravening financial acts.

Mazibuko reportedly handed himself over to the Hawks' serious organised crime unit on Thursday after receiving a summons.

Hawks spokesperson Captian Simphiwe Mhlongo says that Mazibuko had allegedly lured victims to invest money in his company.

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"He allegedly assured them that they would receive a monthly return of 80% of their invested capital. However, Mazibuko never paid the promised monthly returns or the interest back to the complainants. The total value involved is R735,000.”

A case of fraud had been reported at Pietermaritzburg police station and the case docket was handed over to the Hawks for further investigation.

Mazibuko is notorious for his luxury lifestyle often flexing pictures of luxury vehicles and expensive clothing.

His first appearance is set to take place in the Durban specialised commercial crime court later this month.

Meanwhile, Briefly.co.za reported that Former president Jacob Zuma is facing a potential arrest for defying the Constitutional Court.

Nevertheless, the Umkhonto weSizwe Military Veterans Association is adamant that Zuma will not be going into exile or to prison.

Thursday saw the veterans attending a marathon meeting which took place over seven hours between Zuma and the association's national executive committee. MKMVA president Kebby Maphatso was joined by Carl Niehaus and Des van Rooyen after the meeting to address the media.