An unemployed man from Hammanskraal has leveled allegations of fraud against a former Isidingo and Generations actress, claiming that she defrauded him out of R16,000 he had worked hard to earn through a Bitcoin scheme that fell short of its goals.
William Kgole, who contacted The Star after an actress promised him an instant fortune, stated that he now owed loan sharks more than R18 000 after parting with money that he borrowed from friends, family members, and colleagues.
“I am very traumatized by everything that has happened.
Since I started trading with Letoya Makhene in August after she contacted me through TikTok, my life has turned into a complete and utter mess.
“She assured me that she was a seasoned trader and urged me to make an investment with her business, which is known as bestoptionfxt.
I was told that I should invest R1,000 and that I would get my profit within 48 hours, but it has been two months and I have not received the money that was promised to me. “I was told that I should invest R1,000 and that I would get my profit within 48 hours.”
“To make matters even more difficult for myself, in order to keep up with some of these payments, I have been forced to borrow money from people who operate like loan sharks.
Additionally, my wife took out loans from some of her coworkers. Because she has a debt to them, she is currently unable to go to work.
Kgole lamented, “This has completely derailed my life.”
Kgole claimed that the former Generations actress contacted him on TikTok in August, and that afterward they continued their conversation on WhatsApp, where he was given the recommendation to make an investment of one thousand rand.
After a period of two days, Kgole was informed that he needed to make an additional payment of R6,300 to upgrade his trading account in order to receive his portion of the profits.
After that, he placed a few phone calls to family and friends in an effort to raise the necessary funds.
At first, he was only able to raise R4,000, and he was told to try even harder and even sell his belongings because his investment will make up for this loss. However, he was only able to raise R4,000.
After making significant efforts to raise the necessary funds, he was ultimately advised to make the R8,000 payment.
I worked hard and took out loans because I was under the impression that I could rely on her because she was a prominent person.
“At first, I declined, but over the course of a video call, she was able to win me over.
“I went out in the world to borrow more money in order to get the last R2,300.
“After a fortnight had passed, I was informed in an email that I was required to make an additional payment of R9,000 for signal insurance.
“When it came to this occasion, she even contacted my wife and begged her to assist me.
“When she did that, it calmed our concerns and convinced us that she was telling the truth.
“We even sold some of our household items including our sound system and refrigerator in order to pay this signal fee,” he said. “These items included our sound system and refrigerator.”
Kgole claimed that he was only able to raise R5,000, which was a fraction of the total amount that was given to Makhene and her group.
In spite of this, the excuses continued, and he was asked for even more money.
After being given the runaround by the actress and the team, he was finally able to retrieve the remaining R4,000; however, he did not end up with any profit from his purported investment.
This time, I was informed that a foreign exchange currency facilitation fee in the amount of R8 000 would need to be paid. I cannot take any more of your lame explanations.
“I have the impression that Letoya and his people are trying to con me.
“As someone who is currently without a job, I feel that Letoya and her people have really betrayed me.
“My wife suffers from depression, and as a direct consequence of all of this, she has developed chronic heart failure and high blood pressure.”
Kgole stated, “At the very least, if they return my money, then I will be able to take care of her.”
Makhene refuted allegations that she is defrauding people and added that she is familiar with William Kgole, one of her clients.
“Yes. I am not denying in any way that I am familiar with him.
“The business demanded that he cover the cost of the transfer fee in order for them to give their blessing to his withdrawal.
“This is in accordance with the policy of the company.
She said, “I suggest that he pays for the cost of transfer in order for the company management to approve his investment withdrawal immediately.” “I suggest that he pays for the cost of transfer in order for his investment withdrawal to be immediately.”
According to the report, there are four million people in South Africa who hold cryptocurrency.
In South Africa, the number of people who own cryptocurrencies is estimated to be four million, according to Finder’s Cryptocurrency Adoption Index report. An ongoing survey of internet users in 26 countries provides the data for the index, which measures the expansion of cryptocurrency markets around the world.
According to the findings of the study, males in South Africa have a holding of cryptocurrency at a rate of 65%, which is 1.9 times higher than the percentage of females who hold crypto, which stands at 35%. Bitcoin is held by 52% of all cryptocurrency owners in the country, which is higher than the global average of 37%, which indicates that bitcoin is the most popular cryptocurrency in the country.
South Africa has a cryptocurrency ownership rate of 10%, which is lower than the global average of 15%. Roughly 5% of those surveyed in the country say they own bitcoin (BTC), while 2% say they own ethereum, 2% say they own dogecoin, and another 1% say they own cardano.
With regard to age, those who are between the ages of 18 and 34 in South Africa make up the largest portion of crypto owners, accounting for 45% of all crypto owners. Only 23 percent of crypto owners are people aged 55 and older, making this age group the one with the lowest likelihood of owning cryptocurrency.
According to the report, which questioned 217,947 individuals across 26 different countries, South Africa achieved an overall ranking of 18th out of the 26 countries surveyed for crypto adoption.
As a result of South Africa’s regulators becoming less stringent and adopting a more liberal stance on cryptocurrencies over the course of the past few months, the country is likely to see an increase in the adoption of cryptocurrencies over the course of the next few months.
The announcement made by the country’s central bank that it was working on a regulatory framework for cryptocurrencies is one example of an enabling regulatory move that was made in the country. Another example is the South African Reserve Bank putting out a guidance note advising banks to stop cutting ties with crypto assets service providers. Both of these moves were made by the South African Reserve Bank.
Binance, the largest cryptocurrency exchange in the world measured by the volume of transactions that it processes, has just recently announced that its users will now be able to deposit and withdraw the South African Rand (ZAR) to and from their Binance wallets. This move is being made in an effort to increase the adoption of cryptocurrency and make it more accessible to the mainstream in South Africa.