South Africans are having a field day with ‘fake billionaire’ Mandla Lamba and his new business venture which puts Somizi front and centre. Mandla Lamba made headlines in 2011 for faking his billionaire status and claiming to be the youngest billionaire of all time.
Back then Mandla claimed to have acquired his billions through mining, this time he’s back with the launch of his new company Agilitee, a new electrical and green tech company.
His latest venture includes media personality Somizi Buyani Mhlongo who would be entering into the deal with Mandla which will see him owning his own dealership of Agilitee electric cars.
I’m not saying don’t invest neh. But do Google Mandla Lamba before putting your hard earned money there. https://t.co/BObVnu0mug
— IZWELETHU 😭✊🇿🇦 (@miss_andisa) July 2, 2021
Mandla Lamba was arrested and served time in prison on charges of fraud, theft and culpable homicide.
According to City Press, he was found to be selling funeral policies and insurance without being registered with financial authorities. In his previous business venture, Mandla said he had close ties to President Cyril Ramaphosa in a mining initiative. A claim Ramaphosa called laughable.
Somizi’s followers were highly critical of his post featuring an Instagram Live with Mandla on Agilitee officially closing the shares for the company.
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The shares seem to be structured in a tiered bracket from R5000 for R50K shares to R100K for R1 million in shares. Many of Somizi’s followers warned others not invest and called Mandla a conman.