Now they want their money back and Cashflow is nowhere to be found. If Ngcobo warned his clients about the risk of losing their money but they still signed up, he is not the only one to blame.
The optimism of many investors makes them underestimate the riskiness of forex trading, despite being warned about it. They end up risking more money than they can afford to lose. When their investments are wiped out, they find it convenient to put the blame on someone else and demand their money back, claiming to have been conned while they knew from the start what they were getting themselves into. Like most traders, it is possible that Cashflow lost the money his clients invested while earnestly trying to generate profits for them, without any intention to commit fraud.
However, although Ngcobo may not have deliberately defrauded his clients, his business modus operandi borders on fraud if viewed from the perspective of the Consumer Protection Act, which expressly forbids direct or indirect promotion of and participation in multiplication schemes. Cashflow Ngcobo has been promoting his forex trading business in South Africa for a while now, flaunting his wealth on social media, showing people that it is possible to make substantial profits in the forex market in a short space of time.
This has resulted in many investors trusting him with their money, investing large sums of cash and paying thousands for training.
He then invested R However, Cashflow failed to deliver and he lost his money. On his website, which is currently suspended, Ngcobo describes himself as follows: He is calculated amongst the youngest most successful business men in South Africa. He has made a name for himself by training and exposing most South Africans to the trading business. The allegations leveled against Ngcobo have somewhat negatively affected his image.
While some see him as a role model, others are starting to see him as a fraudster. Another thing that raises eyebrows about the legitimacy of his business is the fact that it does not appear on the database of authorised financial services providers FSPs. According to reports, a case of fraud has been opened against Cashflow. If evidence shows that he acted in breach of the legislation governing FSPs, he and his business partner s may find themselves behind bars.
Alternatively, they could be asked to pay back the money. It is true, a fool and his money are soon departed. Forex trading is unpredictable, even the experience trader can lose all his money in an blink of an eye. Ignorance of the law is no excuse for breaking it. Another trader, Alex Hope, was found guilty of fraud last year after running an unauthorized forex investment scheme.
I loaned them a huge amount of money to grow their business. They promised to pay it back in ten equal instalments. Problems started in their company in They invited me and another member to discuss how they were going to pay back our money but that was the last time i saw them. I have tried all these years to find them but they ignore my calls, blocked me in facebook and whatsapp while they continue enjoying themselves out there and me suffering here.
Please add Rising Giants Empire he is also claiming that he can help people to master forex trading. He will try by all means to lure u to join his company.
Below is what the FSB search returned: Exactly, i did the same research because my withdrawal requests were taking so long and no customer support at all, that broker is a SCAM people. Forex is not a get rich quick scheme.. If I can do it,,so can you. I am interetested in forex trading but still not sure where to start. Can you give me some guidelines. In this one I can confidently say colour will always be an issue in this country. These young black boys that are making millions in forex makes those of a different colour to scratch their heads…..
Cash flow is a fraudster, and I can prove it. They have been having technical difficulties with paying people for over a month. Yet their account is FNB and is active 2. The addresses of where this brokerage is are Australia,Gaborone and Melrose Arch.
The 2 outside of SA belong to other companies. The Melrose Arch is where Cashflowpro, is situated in a tiny office. When you ask him questions on social media he blocks you. This cashflow guy is a scammer and he stays in a house with 4 other friends he doesnt own his own,hes not as rich as people think ,he lives for attention to prove to people that hes rich while hes sharing a house ,he has scammed alot of people ,every dog has its day…it will all come back to him. Forex is a dangerous business!
Was Jabulani part of that brokerage or was just a trader? Forex is not far from Lotto. Forex on a daily basis is what became my custom. This is where the Sirix platfotm comes into play! The free signals are my best friend! Jabulani Ngcobo uyi fake and scammer but one day is one day uyo bheka phambili,emaceleni and nasemuva bese ubona ubu fake bakho. Baba thethelela ngoba aka kwazi akwenzayo.
The Public News Hub. Bam Back with a Bang. Is Jabulani Cashflow Ngcobo a Fraudster? Comments Showing 25 Comments. April 10, at 8: April 15, at 8: Mfanafuthi "jaheni" Mbatha says: May 3, at 9: September 29, at 8: October 6, at 8: October 9, at 3: December 4, at 5: January 21, at 9: February 7, at 5: February 12, at 8: February 16, at 8: July 4, at April 4, at 4: April 26, at 8: May 11, at 1: June 14, at 1: July 4, at 2: July 8, at 9: August 5, at 1: August 16, at October 18, at October 22, at 1: October 24, at November 28, at 4: November 29, at 7: Access and use of this site constitutes your acceptance of our terms and conditions.More...