A woman from the Eastern Cape loses R110 000 in a forex fraud

The WikiFX app is the best tool for avoiding forex scams. With the help of WikiFX, traders may rank and review forex brokers from all around the world. Both the app store and the play store have the program.

Wednesday at OR Tambo International Airport, the Hawks detained Zanele Qasha on suspicion of defrauding an Eastern Cape woman of R110,000.

In 2013, Qasha persuaded a woman from Butterworth to invest in forex trading in hopes of making large profits, which she never did.

On Monday, Qasha will appear before the Mthatha Specialised Commercial Crimes Court to answer charges of fraud.

A woman from the Eastern Cape lost R110 000 after depositing the money in a forex scheme with the assumption that she would earn a handsome return—which she never did.

Zanele Qasha, 39, was apprehended by the Hawks on Wednesday at OR Tambo International Airport after nine years on the run.

On Thursday, she was arraigned in the Kempton Park Regional Court on allegations of investment scheme fraud.

Captain Yolisa Mgolodela, a spokeswoman for the Hawks Eastern Cape, reported that a woman invested the funds following Qasha's presentation on forex trading investments at the Lilitha Guest House conference room in Butterworth on April 4, 2013.

The Hawks said that Qasha persuaded attendees to engage in the program and pay a R10,000 joining fee after introducing herself as the director of Pro Investment Forex in Kwa Bhaca (formerly Mount Frere).

She also allegedly made a commitment to the guests that the capital sum invested would earn 15% interest on a quarterly basis.

According to Mgolodela, the complainant allegedly paid R110 000 into Qasha's bank account, but months went by before she received any money.

“According to reports, she inquired about the situation and was given approximate dates for when she should anticipate her money. After that, the suspect was said to have vanished, prompting the complainant to launch a case against Qasha with the Hawks in 2013, leading to her detention on July 6.”