Blaine Joseph laughed all the way to the bank while his victims were left in tears and without a penny due to his alleged deceitful forex investment practices. However, he is now a wanted man and Sandton police have issued a warrant for his arrest.
According to the police, Joseph owned a trading company named Billion Forex Investments, which he used to target his victims, many of whom reside in the Fourways and Sandton areas, into investing in it.
Sandton police assigned a private investigation and undercover observation services company, Royal Investigations, to conduct a thorough investigation into the alleged fraudulent activities of Joseph and his forex scheme.
“The scheme has left a trail of devastation, with thousands of innocent investors falling victim and suffering significant financial losses. It has come to light that while Joseph has been living a lavish lifestyle attending red-carpet events in his blue Bentley, ordinary investors have been left financially devastated due to his deceitful investment practices,” said John Alexander from Royal Investigations.
“Despite numerous claims of being a successful forex trader, evidence suggests that Billion Forex Investments is not registered with the Financial Sector Conduct Authority (FSCA) and therefore lacks the legal authorisation to provide investment advice or trade forex on behalf of others. Another fraud case is under investigation as Lyttleton SAPS (CAS 577/12/2019). Victims have obtained a High Court Judgment granted to the 15 plaintiffs, totalling an alarming R12 150 851 in damages.”
Alexander explained that this judgment underscores the severity of Joseph’s fraudulent activities and the substantial harm caused to innocent individuals seeking legitimate investment opportunities.
“It has been discovered that he is actively involved in Telegram groups, potentially targeting more unsuspecting victims. We strongly urge anyone who has fallen victim to his schemes or has any information regarding his current whereabouts to come forward and cooperate with the authorities. We seek the public’s assistance in bringing Blaine Joseph to justice. His evasion of law enforcement authorities has proven to be a significant challenge, and it is crucial that he faces the full extent of the law for his actions.”
The police appeal to anyone with relevant information to contact the Royal Investigations at 071 915 4321 or report any tips anonymously to Crime Stop at 08600 10111.
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