Prince Mazibuko’s latest news: What happened to his fraud case?
Prince Mazibuko is a former South African Forex trader. His name was all over the headlines in 2015 when he was charged with 194 counts of fraud and theft. Between 2011 and 2015, Mazibuko lived big on social media. His pages were filled with photos of him posing with high-end cars and donning expensive outfits. The last time he appeared before the Durban Specialised Commercial Crimes Court was reportedly on 26 February 2021.
Source: Facebook
It is shocking to learn that between 2018 and 2022, South Africa recorded a 600% increase in fraud cases. Among the people charged with fraud during that period was Prince Mazibuko. His case attracted the attention of many, with the authorities reporting that he had conned his victims around R735,000 through his company, Born Rich Group.
Prince Mazibuko’s profile summary and bio
| Full name | Prince Nkosinathi Mazibuko |
| Gender | Male |
| Date of birth | 30 June 2023 |
| Age | 31 years old (as of May 2023) |
| Zodiac sign | Cancer |
| Place of birth | Richards Bay, KwaZulu-Natal, South Africa |
| Current residence | Umhlanga Rocks, KwaZulu-Natal, South Africa |
| Nationality | South African |
| Ethnicity | Black |
| Religion | Christian |
| Sexuality | Straight |
| Hair colour | Black |
| Eye colour | Dark brown |
| Relationship status | Dating |
| Children | 3 |
| Education | Tholokuhle Secondary School |
| Profession | Forex trader |
| Company | Born Rich Group |
| Net worth | Unknown |
Prince Mazibuko’s background
Prince Nkosinathi Mazibuko was born and raised in Nseleni township in Richards Bay on the north coast of KwaZulu-Natal. Unfortunately, his parents passed away when he was young. For instance, Prince Mazibukos' father died when he was six years old. He was raised by his grandmother, who passed away when he was in grade 10.
Mazibuk attended Tholokuhle Secondary School for his high school education. According to him, he dropped out of university to pursue business.
What is Prince Mazibuko’s age?
The Richards Bay native is 31 years old as of 2023. He was born on 30 June 1992, making him a Cancer.
Prince Mazibuko’s Forex career
Source: Facebook
The lad started to fend for himself after the demise of his grandmother, who was his guardian. He was 19 when he developed his passion for stock trading. According to The Citizen, he was taught by a close friend to trade on Forex.
Prince Mazibuko’s strategy worked out so well that he decided to help other people interested in making money through stock trading. The process began with him creating his company called Born Rich Group.
Prince Mazibuko’s fraud case
In 2021, he was involved in one of the biggest scandals. The Born Rich Group’s CEO was charged with 194 counts of fraud, theft, and infringement of several financial Acts–some of them include the Banks Act, Financial Institutions Act and Financial Advisory and Intermediary Services Act.
Per the police spokesperson, Captain Simphiwe Mhlongo, Nkosinathi allegedly scammed over 40 individuals out of R735,000 through his firm, Born Rich Group. The Directorate for Priority Crime Investigation, the Hawks, spearheaded the case.
What happened to Mazibuko’s fraud case?
His case was hot in 2021, with many media houses trying to expose him. The last time he appeared before the court was on 26 February 2021. His victims wished he would be sent to jail as punishment for his crimes. However, that did not happen.
According to the letter obtained by Zimoja Lezinto, the Forex dealer appealed for help after he lost everything. Part of his letter read,
Source: Facebook
The reason I share this is because I need help. I have lost everything in life, from business, assets, fiancee and many friends and associates. I can make a list of things I lost, that's a story for another day.
In his recent interview with North Coast Radio104.0, Prince said he should have followed the proper channels when establishing his business.
Prince Mazibuko is the founder of Born Rich Group. The company dealt in stock trading but was involved in one of the biggest defrauding scandals that saw its downfall. The founder, Mazibuko, was charged with close to 200 counts of fraud, theft and contraventions of various financial Acts.
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Source: Briefly News
