Alleged South African Bitcoin Scammer Makes First Court Appearance Since Arrest – Regulation

Sandile Shezi, the South African Bitcoin trader accused of defrauding investors, recently appeared before a judge in Johannesburg for the first time.

Shezi out on bail

The Bitcoin trader's court date came just days after he made good on his promise to turn himself in to police. However, according to a Test report from Sowetan, Shezi - who is now out on bail - is due to return to court on November 24.

As before reported from Bitcoin.com News, Shezi is facing fraud allegations stemming from his failure to keep promises he made to Global Forex Institute investor Allan Ledwaba.

Although Shezi has repeatedly denied the allegations, Ledwaba and an unnamed investor still filed complaints against the Bitcoin trader. The filing of these complaints then culminated in the issuance of the arrest warrant against the Bitcoin trader.

Meanwhile, the report quotes Ledwaba commenting on Shezi's arrest and subsequent court appearance. He said:

Today is not the time for me to reveal my whole story and how I suffered at the hands of a confidant as the matter has just gone to court.

Meanwhile, Sowetan newspaper reports that Shezi had already resigned from his company when he handed himself over to the police. However, the report does not say why Shezi decided to resign before handing himself over.

Do you agree with the court's decision to grant Shezi bail? Tell us what you think in the comments below.

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