ING.
Convicted fraudster Sibusiso Radebe addresses cheering investors a decade ago. Photo: Siphiwe Sibeko
The man reported to have been the first person in South Africa to have paid R1 million in bail – in cash – 10 years later hasn’t been able to pay his lawyer.
Nicknamed “The Messiah”, Sibusiso Radebe lived the high life while running one of the biggest pyramid schemes in South Africa.
On Thursday, he was not able to go ahead with his bail application in the Johannesburg Magistrate’s Court because he did not have a lawyer.
His previous lawyer, who identified himself only as Mr Ndhlovu, excused himself from the case because his client had not paid him.
Ten years ago, Radebe was arrested for running the Miracle 2000 pyramid scheme, from which he raked in R3m a day from poor people, whose investments he never returned.
There were riots outside court at the time because investors believed they would not get their money back if Radebe was arrested. The investors called him their Messiah, believing that they would receive 1 700 percent in interest on their investments.
Radebe was released on R1m bail, which he was said to have paid in cash. He was found guilty and given a suspended sentence.
But last week he was arrested again with his wife Phindile and father-in-law Benson Kamato, for running similar schemes. The schemes were Miracle Solutions, Club 1000 and Muijisa Sababu.
Police said they had found R234 000 in Radebe’s house in Spruitview, as well as a money-counting machine.
Advocate Rodney Mabasa represented Phindile and Kamato, but not Radebe.
Kamato received bail, but Phindile was turned down because she had changed her names, and her ID document did not reflect this, said the prosecutor, advocate Nduvheni Mulangaphuma.
Radebe’s case was postponed to give him time to get a new lawyer or to request Legal Aid.
The few family members who went to the courthouse as a show of support for Radebe refused to speak to the media.
The case was postponed until next week. – The Star
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‘Messiah’ Radebe is unable to pay lawyer