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Global Forex Institute mentor appears in court


Media Statement
Directorate for Priority Crimes Investigation (HAWKS) 


EASTERN CAPE - Nhlakanipho Nyembe (32) appeared in Gqeberha New Law court on 18 September 2023 on charges of theft. Nyembe was served with a summons by Gqeberha based Serious Commercial Crime Investigation of the Hawks on 22 August 2023.

It is alleged that during the period between 13 November 2017 and 30 May 2018, Nyembe was employed at a company called Global Forex Institute (GFI) as a mentor who reportedly provided education services to clients in relation to the Forex Exchange Markets. It is further alleged that Nyembe mentioned to the clients that he invented a robot software program that would trade on their behalf as investors while they are learning how to trade with forex. A single robot was sold at R100 000-0 each and Nyembe reportedly sold three robots to three clients thus making him receive R300 000-00.

The clients lodged a complaint with the Hawks and investigations revealed that GIF never sold any robots to their clients and never authorised Nyembe to sell robots on their behalf either. Nyembe was traced and found in New Castle where he was served with summons to appear in Gqeberha New Law court on 18 September 2023.

Nyembe appeared in Gqeberha New Law court and was released on warning. The matter is remanded to 9 October 2023 for an attorney.


Warrant Officer Ndiphiwe Mhlakuvana
082 417 6972