According to various local sources, the new boyfriend of well-known DJ Zinhle Jiyane, Brendon Naidoo, “has allegedly been enriching himself by scamming retired teachers and businesspeople”.
There were alleged reports that a case of fraud was opened against Naidoo at the Sandton Police Station on Friday. The police confirmed to the paper that the case had indeed been opened.
His accusers allege he defrauded them of as much as R15 million by falsely assuring them he was going to invest their money in the forex trade through his company Oracle Wealth Management, which operates out of the five-star Michelangelo Hotel in Sandton.
Judging by the statements of his accusers, it’s possible Naidoo may have been operating a pyramid scheme.
The cases go back to at least 2014, with one businessman, Thapelo Tshepe, saying he transferred R3 million into Naidoo’s account. He admitted to Sunday World that he also recruited other people, many of them retired teachers, to give their money to Naidoo, thinking he was helping them.
Apparently, Naidoo convinced his “victims” by showing them pictures of himself next to a flashy Audi R8 and producing bank statements of how much money he was making.
Tshepe alleges he later confirmed the bank statements were fake after he grew suspicious when Naidoo did not allow him to withdraw his “profits”.
Tshepe’s business partner lamented the fact that they had involved pensioners in the money-making scheme.
Another alleged victim told the tabloid he had lost his R1 million investment, though Naidoo’s company had allegedly paid him R280 000 in “profits”.
Sunday World said they were not been able to reach Naidoo for comment.
His lawyer said that before any comment could be made, they would have to wait for further instructions from Naidoo.