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Ntshasa’s Facebook page showcased his luxurious lifestyle and he had a tendency throwing in motivational phrases about making money and being wealthy. The couple got engaged in the Maldivez Islands, south Asia, in 2021.

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Sizwe sama Yende

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Flamboyant forex trader, Moeketsi Ntshasa (28), allegedly scammed 146 individuals of their hard-earned cash before he vanished, and had to be tracked by police.

The Hawks in the Free State reported this week that Ntshasa’s R2.9 million house in Ladybrand was preserved after the Ladybrand Magistrate’s Court issued an order.

Ntshasa ran a forex company, Integrated Investment Inn, through which investors lost about R21 million. When he felt he was loaded enough, he abandoned his investors in 2021 and went to live in Johannesburg where police found him in 2022.

Free State Hawks spokesperson, Lt General Zweli Mohobeleli said this week that Integrated Investment Inn was a registered company with the Companies and Intellectual Property Commission (CIPC) but was not registered as a financial services provider.

“Some of the people joined after he approached them while others learned of the forex scheme through family members and friends who had already invested,” Mohobeleli said.  

WATCH: A glimpse into Ntshasa's luxurious lifestyle

He said that an in-depth analysis of the movement of monies deposited by victims who had invested through Ntshasa’s forex company pointed to a newly bought house in Ladybrand.

Ntshasa and his partner, Phetogo Molosi (26), have already appeared in the Ladybrand Magistrate’s Court several times. Their next appearance will take place from 15 to 19 July 2024.

The couple’s globe-trotting to exotic holiday locations seems to have ended as they are facing numerous counts of charges including fraud, theft, and money laundering through their forex trading business.

Ntshasa’s Facebook page showcased his luxurious lifestyle and he had a tendency throwing in motivational phrases about making money and being wealthy. The couple got engaged in the Maldivez Islands, south Asia, in 2021.

It is known for its pristine beaches and holiday resorts.

Ntshasa’s forex trading’s promises lured employees quit their jobs and invested all they had. Other investors took out loans, which they are still repaying to this day, while others have since died.

Last year, a concerned investor started a petition and estimated the lost investments to be about R300 million.   

The petition intended to pressure police management in the Free State to deal with a court orderly who appeared to cosy with Ntshasa and would even bring him clean clothes for court appearances.

“Every time Ntshasa appeared in court, [the court orderly] would bring him clean clothes from home, give them to him in full view of the public (witnesses) in the court cell. Ntshasa was well taken care of, like he was this hero who fought for the people as he even rode in front in the police van when taken from and back to Grootvlei Correctional Services and not at the back as a prisoner he was,” read the petition.

Even when Ntshasa appeared in Bethlehem, the policeman would be there “playing bodyguard,” the investor said.

In January 2023, Ntshasa appeared in the Commercial Crimes Court in Bethlehem and W/O Motete was also present at that hearing, playing bodyguard again. According to SAPS records, he was supposed to be working on that day as he was neither on vacation nor sick leave. As investors, we would like to know on whose authority or permission did he go to Betlhehem.

The investor complains that members of the public have lost trust in the police as their member chose to protect a suspect than to be on the side of the victims.