Ladysmith KZN: Sgumza on the run again?
"We are still tracing his bank accounts to see where he transferred the money he stole from people last year" say the Hawks
After the scandal last year July, when Ponzi kingpin Sphelele ‘Sgumza’ Mbatha left Ladysmith investors high and dry and penniless, he has had the guts to come back to Ladysmith…
He has been seen around town since September, driving his blue BMW.
Sgumza has stated that the main reason he decided to return was to pay back money to Ladysmith residents. People began to believe him after he appeared on ‘Cutting Edge’ on SABC 1 on October 20, saying that he wanted to do right by the people of Ladysmith.
“Previously, things didn’t end well, as I ended up being used by people who wanted to fulfill their bad deeds. But I am back and I want to compensate people. I will open up offices in Illing Road, whereby investors will come with their slips which prove that they indeed invested in Bitcoin Wallets. Then I will pay them back their money without interest. I was forced to leave town last year, as people got angry and burned down my home in Tsakane. As a result, I ended up losing my mother and I was left a broken man,” said Sgumza on ‘Cutting Edge’.
After the show, Ladysmith residents started trusting Sgumza again and invested their money in the Bitcoin investment business he had opened up in Tsakane from his home.
Also read:Ladysmith Ponzi kingpin Sgumza dodges arrest because of Covid-19
However, on Tuesday this week (November 3), Sgumza was nowhere to be seen, again leaving investors high and dry without the money they had invested.
A source close to this story (who cannot be named) said that Sgumza had been robbed. “I am very disappointed in Sgumza, as he seemed sincere and now I am left questioning whether he came back to take revenge on the people of Ladysmith who burnt down his home.”
Investors were seen looting his home in Tsakane.
Hawks spokesperson Captain Mhlongo commented that they were not aware that Sgumza had been operating in Ladysmith again. “We are still tracing his bank accounts to see where he transferred the money he stole from people last year,” said Captain Mhlongo.
No new cases have been opened against Sgumza… But where is he now?
All attempts by the Ladysmith Gazette to get hold of Sgumza have been unsuccessful, as his cell-phone just rings with no answer.
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