Jabulani ‘Cashflow’ Ngcobo is a South African foreign exchange (forex) dealer. Ngcobo and his accomplice Mzabalazo Welcome Dlamini have been sentenced to six years in prison on numerous counts of fraud.

Background

He changed into born and raised in KwaDabeka, Durban, South Africa.[1]

Age

Jabulani Ngcobo turned into born on 29 May 1985.[1]

Children

‘Cashflow’ Ngcobo has three youngsters with Tumi Linx.[2] The youngsters are; Letho, Luwigy, and Amara.[1]

Fiance

Tumi Linx

‘Cashflow’ Ngcobo proposed at an all-white birthday celebration at the Four Seasons Hotel in Johannesburg. The all-white engagement birthday party was attended by means of A-listers inclusive of actress Connie Ferguson, Real Housewives of Durban solid member Ayanda Ncwane, Shauwn Mkhize and Sophie Ndaba. Tumi and Ngcobo had been together on and rancid for over 4 years.[3]

Social Media and Contacts

Twitter: Jabulani Ngcobo

Instagram: cashflowngcobo

Businesses

Cashflow Properties

Net Worth

Cashflow Ngcobo’s actual or anticipated net well worth is unknown. However, Briefly places Cashflow Ngcobo’s net really worth at round R5M.[1]

Education

He enrolled at Langa High school in Clermont, where he studied his secondary training.[1]

Career Before the Forex market Trading

He labored at Toyota for a length of now not greater than eight months.

After leaving the activity, in 2016, he started out a debt series company before venturing into a stock market-related business, launching his brand Cashflow Pro in 2009, which become re-branded from Smart FX Pro.[1]

Fraud Accusations

In 2018, an Angolan businessman Francis Boole laid a fee of fraud in opposition to Ngcobo in Johannesburg, accusing him of getting conned him of R100 000 in a forex alternate deal that went incorrect.[4]

Another patron, Mkhulisi Ngubane registered a grievance with the Financial Sector Conduct Authority (FSCA). This become after Ngcobo had allegedly gone AWOL while he desired to withdraw. Ngcobo had also referred him to every other trading corporation after he had already given him cash.[2]

R1 Million Party

In 2017, Ngcobo threw a R1 million birthday party after the Randburg Magistrate’s Court acquitted him and Dlamini on expenses of fraud, theft and cash laundering. They additionally took a journey to French Indian Ocean island Reunion to mark the event.[4]

 
Conviction and Sentencing

‘Cashflow’ Ngcobo become sentenced to 6 years in jail on numerous counts of fraud and contravening phase 7(1) of the Financial Advisory and Intermediary Services (FAIS) Act. The rely went to the Specialised Commercial Crimes Court in Durban in 2014.

The courtroom sentenced Ngcobo and Dlamini to six years, imprisonment, two of which have been suspended, and a nice of R200 000 fully suspended for 5 years.

The Financial Sector Conduct Authority (FSCA) referred the duo to the crook government following its sizeable investigations and adverse findings. The investigations found that the duo had misrepresented themselves as permitted economic offerings vendors (FSPs) that might alternate forex on behalf of their customers when they had been no longer.[4]

Ngcobo and Dlamini made an software for leave to appeal their sentence and it became granted.

He is a man who has inspired so many young people in Mzansi . You can also find him on your social media platforms such as Instagram . On his recent post he shared with fans a beautiful picture of him with Shauwn Mamkhize which left many Gobsmacked in Mzansi .