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Tuesday, March 28, 2023

Popular Radio Presenter Suspended for Alleged Ties to Bitcoin Scam

Popular Radio Presenter Suspended for Alleged Ties to Bitcoin Scam – Sebasa Mogale, a radio presenter for the South African state broadcast, was recently suspended after a media exposé revealed he was involved in a cryptocurrency fraud that allegedly offered a 300 percent return on investment.

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After an investigative report by the media outlet Carte Blanche described him as being one of the masterminds behind the scam that allegedly fleeced more than 100 people, the decision to suspend the popular broadcaster, who plays a role in South Africa’s popular television series Skeem Saam, was made.

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Gugu Ntuli, the group executive responsible for corporate affairs and marketing at the South African Broadcasting Corporation (SABC), confirmed Mogale’s suspension. The executive said in a statement:

“Following the Carte Blanche exposé, Thobela FM has decided to unschedule Sebasa Mogale, (Ntshirogele) Afternoon Drive presenter. Mr Mogale has been given the opportunity to address the problems presented in the recent broadcast regarding his personal cryptocurrency business dealings.”

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In its own investigation of Mogale’s role in the scheme, the SABC will “leave no stone unturned,” according to Ntuli.

According to a Carte Blanche exposé, Mogale leveraged his celebrity status to entice some of his radio show’s listeners to invest. According to the research, investors with minimal experience managing personal finances “cashed in their pensions and savings policies.” Mogale’s assurances, however, proved to be worthless in the end.

“However, for at least 140 people, the man they trusted to lead them through the crypto maze seems to have been little more than a confidence trickster,” according to a summary of the exposé published by Carte Blanche.

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Following the suspension of Mogale, some of the scam victims have come out to share their losses. Another report quotes Sello Bonoko as saying he became a victim after listening to Mogale’s bitcoin investment pitch, which “sounded convincing.” He further stated that he believed Mogale’s assurances because they were broadcast on national radio. Bonoko claimed he had lost about $14,500. (R230,000).

Meanwhile, a South African police official is mentioned in the report as asking Mogale’s victims to report him to the authorities. He stated that the police may only act after receiving formal complaints.

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