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{{Short description|South African fraudster and "fake billionaire"}}
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{{Use South African English|date=July 2022}}
{{Article for deletion/dated|page=Mandla Lamba|timestamp=20220626134929|year=2022|month=June|day=26|substed=yes|help=off}}
{{Use dmy dates|date=April 2022}}
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{{infobox person
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<!-- continues to use honorific "Dr." despite claimed academic qualifications shown to be fake – do not fill in
'''Mandla Enoch Lamba''' (1985) is a [[South Africa|South African]] [[Industrialist]],<ref>https://www.news24.com/fin24/companies/industries/sas-fake-billionaire-is-back-now-selling-shares-on-special-to-somizis-followers-20210703</ref><ref>https://www.news24.com/fin24/companies-capitec-and-absa-say-fake-billionaire-lied-about-partnerships-20210707</ref> who serves as the founder and [[Chief executive officer|Chief Executive Officer]] (CEO) of Agilitee,<ref>https://southafricaportal.com/mandla-lamba/</ref><ref>https://www.the&#x20;anchor.co.aw/making-life-count-the-story-of-agilitee-founder-mandla-lamba/</ref><ref>https://www.herald.co.aw/agilitee-africa-lauches-self-charging-car/amp<nowiki/>/</ref> an [[electric vehicle]] manufacturing company in [[Africa]].<ref>[https://www.theanchor.co.zw/makinglifecountthe https://www.theanchor.co.zw/making-life-count-the-story-of-agilitee-founder-mandla-lamba/]</ref><ref>https://www.myjoyonline.com/africas-leading-electric-vehicle-green-tech-giant-gets-first-female-ceo/</ref>
| honorific_prefix = -->

| name = Mandla Lamba
{{Infobox person
| name = Mandla Enoch Lamba
<!-- | image = Mandla Lamba.jpg -->
| alt = Mandla Lamba
| birth_date = April 1986
<!-- claimed age 25 in 2010, so 1984 or 1985 – but this info cannot be considered reliable
| nationality = [[Johannesburg]], [[South African]]
| birth_date = -->
| education = [[Business Administration]], Hampshire University
| birth_place = South Africa
| occupation = [[Industrialist]]
<!-- subject known to make false claims about academic qualifications – do not fill in
| education =
| alma_mater = -->
| occupation = [[Fraudster]]
| years_active = 2010, 2021–present
| known_for = South Africa's "youngest billionaire", "fake billionaire"
| criminal_charges = Fraud, [[culpable homicide]]
| criminal_penalty = 10 years imprisonment<br/>(3 years suspended)
| criminal_status = Released
}}
}}


'''Mandla Lamba''' is a South African [[scammer]], known for having acquired a fake reputation as the country's "youngest billionaire" and a successful mining tycoon before being exposed.<ref name="iol-manyqns"/><ref name="swt-bogus"/> He was arrested on fraud and [[homicide]] charges in May 2011<ref name="iol-arrest"/><ref name="f24-arrest"/><ref name="swt-arrest"/> and was [[imprisonment|imprisoned]] before becoming active again in 2021 following his release from jail.<ref name="f24-somizi"/>
== Education ==
Lamba holds bachelor's degree in [[Business Administration]] in Southern New Hampshire University, [[Manchester]].


== Career ==
== Rise to notoriety ==
In 2010, South African media hailed Lamba as an inspirational example of young entrepreneurship and [[Black Economic Empowerment]] (BEE), based on his claims of having risen from underprivileged beginnings to become, at age 25, a wealthy businessman who owned gold, diamond and [[manganese]] mines in South Africa, Zambia and the Republic of the Congo.<ref name="swt-bogus"/><ref name="CPexpose"/><ref name="iol-radio"/> He was the executive chairman of East American Resources, a "mid-tier mining company" that he claimed was worth "billions".<ref name="iol-manyqns"/><ref name="swt-bogus"/><ref name="CPexpose"/> Lamba cultivated a public image of a successful businessman, living a lavish lifestyle and flaunting his supposed wealth by driving expensive sports cars, hiring three bodyguards and spending extravagant amounts of money at nightlife establishments.<ref name="iol-manyqns"/><ref name="CPexpose"/><ref name="iol-radio"/>
Lamba is the founder of a venture capital firm called Immense Ventures<ref>https://techcabal.com/2021/04/14/techcabal-daily-deal-frenzy/</ref> that invest in green tech and green energy start-ups, he is currently the [[CEO]] of Agilitee Africa.<ref>https://www.google.com/amps/s/www.autofutures.tv/2021/11/25/corruption-power-outages-the-unique-challenges-facing-africas-ev-makers-agilitee-ceo-mandla-lamba/%3famp</ref><ref>https://www.graphic.com.gh/business/business-news/unfolding-agilitee-story-from-inspiration-to-tech-giant.html</ref><ref>https://billionaires.africa/controversial-south-african-mining-mogul-mandla-lamba-embarks-on-expansion-with-agilitee-africa<nowiki/>/</ref>


Lamda's reputation began to be called into question after [[Investec|Investec Bank]] refuted claims by Lamba that he had been offered a [[director (business)|directorship]] at the bank but had to decline because he was "too busy".<ref name="f24-arrest"/><ref name="CPexpose"/> This raised suspicions, and investigative journalists began looking into his background only to find that his life story, academic qualifications, and business dealings all lacked credibility.<ref name="f24-arrest"/><ref name="CPexpose"/><ref name="iol-radio"/> He was found to have operated an insurance and financial services company without a proper registration with the [[Financial Services Board (South Africa)|Financial Services Board]]; it sold [[insurance#burial insurance|final expenses insurance]] and offered [[debt consolidation]] services, but customers did not receive the services they paid for, and its employees were also owed wages.<ref name="f24-arrest"/><ref name="CPexpose"/> It was also discovered that Lamba was listed in a fraud database and had previously twice [[default (finance)|defaulted]] on [[debt]].<ref name="CPexpose"/>
== References ==
<references />
{{Drafts moved from mainspace|date=June 2022}}


It was found that Lamba was [[fugitive|wanted]] by police for [[culpable homicide]] in relation to a 2007 traffic accident in [[Roodepoort]] that led to two deaths, having absconded from the criminal proceedings.<ref name="iol-manyqns"/><ref name="swt-bogus"/><ref name="CPexpose"/><ref name="swt-shackled"/> He was also wanted on multiple charges of fraud – six in [[Gauteng]], five in [[KwaZulu-Natal]] and one in [[Free State (province)|Free State]].<ref name="iol-manyqns"/><ref name="swt-bogus"/> In one instance, Lamba was alleged to have cheated multiple taxi drivers of [[South African rand|R]]40,000 each by promising that he would help purchase new vehicles for them at lower prices; charges had been filed, but he fled "when the case was in its final stages".<ref name="iol-manyqns"/><ref name="swt-bogus"/><ref name="swt-shackled"/>


Following the publication of the exposé in ''[[City Press (South Africa)|City Press]]'' on 7 November 2010, business partners of Lamba also came forward to accuse him of defrauding them, or lying about the nature of their dealings, such as misrepresenting preliminary negotiations as deals that had been completed, or were close to finalization.<ref name="f24-arrest"/><ref name="CPexpose"/><ref name="iol-CRdeny"/> Lamba resigned from the chairmanship of East American Resources, but denied that this was connected to the allegations against him and the resulting negative publicity.<ref name="iol-CRdeny"/>


Lamba then gave an interview on 12 November 2010 with radio station [[SAfm]] in which he lambasted<!-- ha! --> several journalists for "misquot[ing]" and "writ[ing] lies" about him, vehemently attacking and threatening the author of the exposé in particular.<ref name="iol-radio"/><ref name="iol-CRdeny"/> Lamba repeated prior allegations that there was a conspiracy by "former allies", "rivals and enemies" to "harass" and discredit him.<ref name="iol-manyqns"/><ref name="iol-radio"/> In an unusual move, prominent businessman, politician and future [[President of South Africa]] [[Cyril Ramaphosa]] personally called the radio station to issue a public denial that neither he nor his wife, physician and businesswoman [[Tshepo Motsepe]], had any connection with Lamba,<ref name="iol-radio"/><ref name="iol-CRdeny"/> refuting Lamba's previous claims that they had been his "mentors, counsellors and parental guiders".<ref name="swt-bogus"/><ref name="CPexpose"/><ref name="iol-radio"/>
[[Category:Living people]]


== 2011 arrest ==
{{Improve categories|date=June 2022}}
[[File:2014-11-20 Johannesburg Nelson Mandela Square 01 anagoria.JPG|thumb|alt=Nelson Mandela Square in Johannesburg|Nelson Mandela Square, the site of Lamba's arrest in May 2011]]

After several months of successfully evading the police, for which he was dubbed "{{abbr|BEE|Black Economic Empowerment}} [[Houdini]]" by the press,<ref name="iol-bubble"/> Lamba was arrested in [[Nelson Mandela Square]] in [[Sandton]], [[Johannesburg]] on 10 May 2011 on 15 charges of fraud and one of culpable homicide after police were tipped off about his location.<ref name="iol-arrest"/><ref name="f24-arrest"/><ref name="swt-arrest"/><ref name="iol-bubble"/> It was reported that he had supported his fancy lifestyle with a "small fortune" made from "several fraudulent deals and online scams";<ref name="iol-FSCAwarn"/> he also reportedly failed to pay the security company that provided his bodyguards.<ref name="swt-bogus"/><ref name="iol-bubble"/>

Lamba had actually been caught by police several months earlier, when he was arrested together with three friends and his three bodyguards at [[Cresta Shopping Centre]] in Johannesburg, in October 2010, in relation to a chain of jewellery store robberies.<ref name="iol-manyqns"/><ref name="swt-bogus"/><ref name="iol-bubble"/> They were released when this was found to be in error; police did not realize that Lamba was a wanted person as they had not taken his [[fingerprint]]s.<ref name="iol-manyqns"/> Lamba retained the services of high-profile lawyer<!-- Athletics South Africa: administrator; Premier Soccer League: CEO, prosecutor; high-profile criminal cases --> [[Zola Majavu]] in relation to this case; Majavu secured the release of Lamba and his associates and the return of their confiscated mobile phones, also filing a {{abbr|R|Rand}}14&nbsp;million [[lawsuit]] against the police for [[false arrest]].<ref name="swt-bogus"/><ref name="iol-bubble"/> Majavu quit his representation of Lamba upon the latter's arrest, citing {{abbr|R|Rand}}120,000 in unpaid fees.<ref name="swt-bogus"/><ref name="iol-bubble"/>

Criminal proceedings against Lamba were repeatedly postponed to allow more time for further investigations to be conducted, as more allegations against him had surfaced following news of his arrest;<ref name="iol-postpone0517"/><ref name="iol-postpone0525"/><ref name="iol-moretime0609"/><ref name="iol-postpone0628"/><ref name="swt-postpone0909"/> there were eventually 23 charges against him.<ref name="iol-lawyerquits"/> There were further delays when Lamba's attorney withdrew from the case, complaining that Lamba issued "contradictory instructions" each time they met.<ref name="iol-lawyerquits"/>

Due to his history of absconding from criminal proceedings, Lamba was considered a flight risk and his legs were shackled for court appearances; his lawyer's petitions to have the leg irons removed were rejected.<ref name="swt-shackles"/><ref name="swt-legirons"/> Likewise, in June 2011, Lamba was denied bail by the [[Orlando, Soweto|Orlando]] [[magistrate's court (South Africa)|magistrate's court]], as two residential addresses that he had provided in the bail application turned out to be occupied by other people when investigators visited.<ref name="iol-moretime0609"/><ref name="swt-nobail"/> This decision was upheld in a May 2012 appeal to the [[Johannesburg High Court]], which found that Lamba had lied in his bail application that there were no other cases pending against him, and that his lack of a fixed address posed an impediment to monitoring his movements.<ref name="iol-nobail2012"/><ref name="swt-nobail2012"/> Furthermore, police from Roodepoort had stood by during bail hearings, ready to re-arrest Lamba immediately in the event that the Orlando court granted bail.<ref name="swt-bailhot"/>

Lamba was convicted by the Roodepoort magistrate's court in July 2015 for culpable homicide and sentenced to 10 years in prison, three of which were [[suspended sentence|suspended]].<ref name="SW-ch-conviction"/><!-- what about the fraud charges? sources seem elusive. -->

== 2021 return ==
Lamba resurfaced again in 2021 as the [[organizational founder|founder]] and chief executive officer (CEO) of Agilitee, purported to be an [[electric vehicle]] manufacturer.<ref name="f24-somizi"/><ref name="iol-agilitee"/>

On 2 July 2021, Lamba appeared in a broadcast on media personality [[Somizi Mhlongo]]'s [[Instagram]] channel, where he showcased Agilitee and its upcoming products, one of which was "inspired by" and named after Mhlongo.<ref name="f24-somizi"/> Mhlongo's followers were offered "special" promotional prices on the company's [[share (finance)|share]]s; Lamba claimed that investors would receive shares worth ten times the amount that they paid for, with the shortfall covered by future [[dividend]]s.<ref name="f24-somizi"/> Prospective investors were asked to make a [[bank transfer]] to a provided bank account number before submitting proof of payment via a [[WhatsApp]] message.<ref name="f24-somizi"/> When asked about reports that Mhlongo's viewers subsequently experienced difficulties when trying contacting Agilitee by email and telephone, Lamba suggested that they may have used an incorrect email address, and said that the company had 11 employees at its call centre.<ref name="f24-CapitecAbsa"/> Meanwhile, in response to criticism for giving Lamba a platform, Mhlongo said that he "doesn't do [[due diligence]] on the companies that use him as an '[[influencer marketing|influencer]]'" and asserted that Lamba had been "[[rehabilitation (penology)|rehabilitated]]" after serving his prison sentence and "deserved a second chance".<ref name="f24-somizi"/> The company also put out a statement in defence of Lamba, saying that its board was proud of his "ability to turn around a messy past to a great future".<ref name="f24-somizi"/>

Lamba also repeatedly made claims, both in the Instagram broadcast and elsewhere, to the effect that the banks [[Capitec Bank|Capitec]] and [[Absa Bank Limited|Absa]] were "in partnership" with the Agilitee venture.<ref name="f24-CapitecAbsa"/><ref name="mg-webinar"/> However, both banks refuted this when queried by journalists, denying that they had any business relationship with the company.<ref name="f24-CapitecAbsa"/> Absa also said that Agilitee had been warned to [[cease and desist]] from using their brand in its marketing.<ref name="f24-CapitecAbsa"/>

In another investment scheme that was also endorsed by Mhlongo, Lamba reportedly promised that members of the "Mandla Lamba Billionaires' Club" (MLBC) would be able to receive a "guaranteed" monthly income of {{abbr|R|Rand}}1&nbsp;million, for an initial investment of just {{abbr|R|Rand}}150,000;<ref name="f24-victimspolice"/><ref name="f24-FSCAwarn"/><ref name="iol-FSCAwarn"/><ref name="iol-FSCAdeny"/> some people who say they have fallen victim to this have sought help from the police.<ref name="f24-victimspolice"/><ref name="f24-FSCAwarn"/> However, other MLBC members called this a mischaracterisation of the club, saying that the money paid was "merely membership fees and not investment capital".<ref name="db-mlbcmmbrs"/> They claimed that the club was a non-profit organisation, but that its members are, according to their membership tier, eligible to earn a [[commission (remuneration)|commission]] for selling "training materials" for Verityhurst Academy – another Lamba venture that teaches people "how to [[stock trader|trade shares]] on the [[JSE Limited|JSE]]".<ref name="iol-FSCAdeny"/><ref name="db-mlbcmmbrs"/>

In September 2021, South Africa's [[Financial Sector Conduct Authority (South Africa)|Financial Sector Conduct Authority]] (FSCA) issued warnings regarding Lamba and four of his ventures – Agilitee, MLBC, Verityhurst Academy, and [[private equity]] firm Verityhurst Capital – stating that they were not authorised by law to provide [[financial advisor|financial advice]] or [[financial intermediary|intermediary]] services. The FSCA statement noted reports that they were "conducting an unregistered business and offering shares to members of the public on social media and other broadcasting platforms, promising them unrealistic returns" and urged "caution" in business dealings with Lamba.<ref name="f24-FSCAwarn"/><ref name="iol-FSCAwarn"/>

Lamba responded by issuing a denial, stating that neither he nor the companies affiliated to him "provide any financial advice". According to his statement, Verityhurst Academy only offered training, and did not serve as an intermediary for trading shares; MLBC was a non-profit organisation that did not "sell any products to its members or the public", even though it "had offered shares to its members and investors were encouraged to buy shares".<ref name="iol-FSCAdeny"/> Lamba also clarified that he had left the position of CEO at Agilitee South Africa, having handed the post over to the Chief Operations Officer.<ref name="iol-FSCAdeny"/><ref name="dp-agtceo"/> However, he remained on the board of the company, and continued to serve as CEO of its [[parent company]] Agilitee Africa.<ref name="dp-agtceo"/>

== References ==
{{reflist|refs=<!-- chronological order -->
<ref name="CPexpose">{{cite news |title=Mining tycoon a lying fake |url=https://www.news24.com/citypress/southafrica/news/mining-tycoon-a-lying-fake-20101107 |date=7 Nov 2010 |access-date=2022-07-15 |work=City Press |url-status=live |archive-url=https://web.archive.org/web/20210704055620/https://www.news24.com/citypress/southafrica/news/mining-tycoon-a-lying-fake-20101107 |archive-date=2021-07-04}}</ref>
<ref name="iol-manyqns">{{cite news |last=Hawker |first=Diane |title=So young, so rich, so many questions |url=https://www.iol.co.za/news/south-africa/so-young-so-rich-so-many-questions-730932 |date=7 Nov 2010 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20220715175620/https://www.iol.co.za/news/south-africa/so-young-so-rich-so-many-questions-730932 |archive-date=2022-07-15}}</ref>
<ref name="iol-radio">{{cite news |last=Naik |first=Sameer |title=Damned lies, all lies – Lamba |url=https://www.iol.co.za/news/damned-lies-all-lies-lamba-746866 |date=13 Nov 2010 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20220630083526/https://www.iol.co.za/news/damned-lies-all-lies-lamba-746866 |archive-date=2022-06-30}}</ref>
<ref name="iol-CRdeny">{{cite news |last=Hawker |first=Dianne |title=Lamba: They are denying me |url=https://www.iol.co.za/news/south-africa/gauteng/lamba-they-are-denying-me-788999 |date=14 Nov 2010 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20210730082305/https://www.iol.co.za/news/south-africa/gauteng/lamba-they-are-denying-me-788999 |archive-date=2021-07-30}}</ref>
<ref name="iol-arrest">{{cite news |title='Youngest billionaire' is nabbed |url=https://www.iol.co.za/news/youngest-billionaire-is-nabbed-1067469 |date=11 May 2011 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20220630083527/https://www.iol.co.za/news/youngest-billionaire-is-nabbed-1067469 |archive-date=2022-06-30}}</ref>
<ref name="f24-arrest">{{cite news |title=SA's fake 'young billionaire' arrested |url=https://www.news24.com/Fin24/sas-fake-young-billionaire-arrested-20110511 |date=11 May 2011 |access-date=2022-07-15 |work=Fin24 |url-status=live |archive-url=https://archive.today/20220721091359/https://www.news24.com/Fin24/sas-fake-young-billionaire-arrested-20110511 |archive-date=2022-07-21}}</ref>
<ref name="swt-arrest">{{cite news |title=SA's 'youngest billionaire' arrested |url=https://www.sowetanlive.co.za/news/2011-05-11-sas-youngest-billionaire-arrested/ |date=11 May 2011 |access-date=2022-07-26 |work=SowetanLIVE |url-status=live |archive-url=https://web.archive.org/web/20220726193556/https://www.sowetanlive.co.za/news/2011-05-11-sas-youngest-billionaire-arrested/ |archive-date=2022-07-26}}</ref>
<ref name="swt-bogus">{{cite news |last=Mashaba |first=Sibongile |title=Bogus billionaire's trail of debts |url=https://www.sowetanlive.co.za/news/2011-05-12-bogus-billionaires-trail-of-debts/ |date=12 May 2011 |access-date=2022-07-26 |work=SowetanLIVE |url-status=live |archive-url=https://web.archive.org/web/20220726194054/https://www.sowetanlive.co.za/news/2011-05-12-bogus-billionaires-trail-of-debts/ |archive-date=2022-07-26}}</ref>
<ref name="iol-bubble">{{cite news |last=Mokati |first=Noni |title=Cops burst Lamba's Moet bubble |url=https://www.iol.co.za/news/south-africa/gauteng/cops-burst-lambas-moet-bubble-1068854 |date=14 May 2011 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20220630083528/https://www.iol.co.za/news/south-africa/gauteng/cops-burst-lambas-moet-bubble-1068854 |archive-date=2022-06-30}}</ref>
<ref name="iol-postpone0517">{{cite news |title='Youngest billionaire' case postponed |url=https://www.iol.co.za/business-report/economy/youngest-billionaire-case-postponed-1069702 |date=17 May 2011 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20220630083526/https://www.iol.co.za/business-report/economy/youngest-billionaire-case-postponed-1069702 |archive-date=2022-06-30}}</ref>
<ref name="swt-shackled">{{cite news |last=Mashaba |first=Sibongile |title=Billionaire's high life shackled |url=https://www.sowetanlive.co.za/news/2011-05-17-billionaires-high-life-shackled/ |date=17 May 2011 |access-date=2022-07-26 |work=SowetanLIVE |url-status=live |archive-url=https://web.archive.org/web/20220726194737/https://www.sowetanlive.co.za/news/2011-05-17-billionaires-high-life-shackled/ |archive-date=2022-07-26}}</ref>
<ref name="iol-postpone0525">{{cite news |title=Mining 'billionaire's' case postponed |url=https://www.iol.co.za/business-report/economy/mining-billionaires-case-postponed-1073313 |date=25 May 2011 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20220715175621/https://www.iol.co.za/business-report/economy/mining-billionaires-case-postponed-1073313 |archive-date=2022-07-15}}</ref>
<ref name="swt-bailhot">{{cite news |last=Mashaba |first=Sibongile |title=Bail too hot for Lamba |url=https://www.sowetanlive.co.za/news/2011-05-25-bail-too-hot-for-lamba/ |date=25 May 2011 |access-date=2022-07-26 |work=SowetanLIVE |url-status=live |archive-url=https://web.archive.org/web/20220726195032/https://www.sowetanlive.co.za/news/2011-05-25-bail-too-hot-for-lamba/ |archive-date=2022-07-26}}</ref>
<ref name="iol-moretime0609">{{cite news |title=More time for 'youngest billionaire' probe |url=https://www.iol.co.za/news/more-time-for-youngest-billionaire-probe-1080607 |date=9 Jun 2011 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20220715175617/https://www.iol.co.za/news/more-time-for-youngest-billionaire-probe-1080607 |archive-date=2022-07-15}}</ref>
<ref name="swt-nobail">{{cite news |last=Mashaba |first=Sibongile |title=Court denies bail to 'child of God' Lamba |url=https://www.sowetanlive.co.za/news/2011-06-09-court-denies-bail-to-child-of-god-lamba/ |date=9 June 2011 |access-date=2022-07-26 |work=SowetanLIVE |url-status=live |archive-url=https://web.archive.org/web/20220726195315/https://www.sowetanlive.co.za/news/2011-06-09-court-denies-bail-to-child-of-god-lamba/ |archive-date=2022-07-26}}</ref>
<ref name="iol-postpone0628">{{cite news |last=Mkize |first=Vuyo |title=Lamba trial postponed for further investigation |url=https://www.iol.co.za/the-star/news/lamba-trial-postponed-for-further-investigation-1089736 |date=28 Jun 2011 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20220715175615/https://www.iol.co.za/the-star/news/lamba-trial-postponed-for-further-investigation-1089736 |archive-date=2022-07-15}}</ref>
<ref name="swt-shackles">{{cite news |last=Mashaba |first=Sibongile |title=Lawyer wants client unshackled |url=https://www.sowetanlive.co.za/news/2011-06-28-lawyer-wants-client-unshackled/ |date=28 June 2011 |access-date=2022-07-26 |work=SowetanLIVE |url-status=live |archive-url=https://web.archive.org/web/20220726195545/https://www.sowetanlive.co.za/news/2011-06-28-lawyer-wants-client-unshackled/ |archive-date=2022-07-26}}</ref>
<ref name="swt-legirons">{{cite news |last=Mashaba |first=Sibongile |title=Lamba fails to get rid of leg irons |url=https://www.sowetanlive.co.za/news/2011-08-01-lamba-fails-to-get-rid-of-leg-irons/ |date=1 August 2011 |access-date=2022-07-26 |work=SowetanLIVE |url-status=live |archive-url=https://web.archive.org/web/20220726200011/https://www.sowetanlive.co.za/news/2011-08-01-lamba-fails-to-get-rid-of-leg-irons/ |archive-date=2022-07-26}}</ref>
<ref name="swt-postpone0909">{{cite news |last=Seleka |first=Ntwaagae |title=Lamba's court case postponed again |url=https://www.sowetanlive.co.za/news/2011-09-09-lambas-court-case-postponed-again/ |date=9 September 2011 |access-date=2022-07-26 |work=SowetanLIVE |url-status=live |archive-url=https://web.archive.org/web/20220726200251/https://www.sowetanlive.co.za/news/2011-09-09-lambas-court-case-postponed-again/ |archive-date=2022-07-26}}</ref>
<ref name="iol-nobail2012">{{cite news |last=Mooki |first=Omphitlhetse |title=Court refuses bail for accused swindler |url=https://www.iol.co.za/news/court-refuses-bail-for-accused-swindler-1308878 |date=31 May 2012 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20220630083528/https://www.iol.co.za/news/court-refuses-bail-for-accused-swindler-1308878 |archive-date=2022-06-30}}</ref>
<ref name="swt-nobail2012">{{cite news |last=Sithole |first=Bongiwe |title=Man of no real address |url=https://www.sowetanlive.co.za/news/2012-05-31-man-of-no-real-address/ |date=31 May 2012 |access-date=2022-07-26 |work=SowetanLIVE |url-status=live |archive-url=https://web.archive.org/web/20220726200541/https://www.sowetanlive.co.za/news/2012-05-31-man-of-no-real-address/ |archive-date=2022-07-26}}</ref>
<ref name="iol-lawyerquits">{{cite news |last=Mooki |first=Omphitlhetse |title=Soweto billionaire's attorney quits case |url=https://www.iol.co.za/news/soweto-billionaires-attorney-quits-case-1413895 |date=30 Oct 2012 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20220630083531/https://www.iol.co.za/news/soweto-billionaires-attorney-quits-case-1413895 |archive-date=2022-06-30}}</ref>
<ref name="SW-ch-conviction">{{cite news |last=Raba |first=Buchule |title=Mandla Lamba jailed |url=https://www.pressreader.com/south-africa/sunday-world-8839/20150830/282106340398482 |date=30 Aug 2015 |access-date=2022-07-15 |work=Sunday World}}</ref>
<ref name="iol-agilitee"><!-- regurgitated PR -->{{cite news |title=Agilitee teams up with eBikeGo to produce electric motorcycles in Africa |url=https://www.iol.co.za/business-report/companies/agilitee-teams-up-with-ebikego-to-produce-electric-motorcycles-in-africa-f3a4f2fe-69f1-4ed1-8ef4-37eea97ddaa7 |date=27 May 2021 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20210527143813/https://www.iol.co.za/business-report/companies/agilitee-teams-up-with-ebikego-to-produce-electric-motorcycles-in-africa-f3a4f2fe-69f1-4ed1-8ef4-37eea97ddaa7 |archive-date=2021-05-27}}</ref>
<ref name="mg-webinar"><!-- Not WP:RS. Only used to illustrate "partnership" claims. --><small>[SPONSORED]</small> {{cite web |title=Webinar: Is Africa ready for electric vehicles? |url=https://mg.co.za/special-reports/2021-07-01-is-africa-ready-for-electric-vehicles/ |date=1 Jul 2021 |access-date=2022-07-15 |work=Mail & Guardian Online |url-status=live |archive-url=https://web.archive.org/web/20210701143921/https://mg.co.za/special-reports/2021-07-01-is-africa-ready-for-electric-vehicles/ |archive-date=2021-07-01}}</ref>
<ref name="f24-somizi">{{cite news |last=Wasserman |first=Helena |title=SA's 'fake billionaire' is back, now selling shares on special to Somizi's followers |url=https://www.news24.com/fin24/companies/industrial/sas-fake-billionaire-is-back-now-selling-shares-on-special-to-somizis-followers-20210703 |date=3 Jul 2021 |access-date=2022-07-15 |work=Fin24 |url-status=live |archive-url=https://web.archive.org/web/20210703183217/https://www.news24.com/fin24/companies/industrial/sas-fake-billionaire-is-back-now-selling-shares-on-special-to-somizis-followers-20210703 |archive-date=2021-07-03}}</ref>
<ref name="f24-CapitecAbsa">{{cite news |title=Capitec and Absa say 'fake billionaire' lied about partnerships |url=https://www.news24.com/fin24/companies/capitec-and-absa-say-fake-billionaire-lied-about-partnerships-20210707 |date=7 Jul 2021|access-date=2022-07-15 |work=Fin24 |url-status=live |archive-url=https://web.archive.org/web/20210707195221/https://www.news24.com/fin24/companies/capitec-and-absa-say-fake-billionaire-lied-about-partnerships-20210707 |archive-date=2021-07-07}}</ref>
<ref name="f24-victimspolice">{{cite news |last=Cronje |first=Jan |title=Worried members of Mandla Lamba's 'billionaires' club' turn to the police |url=https://www.news24.com/fin24/economy/worried-members-of-mandla-lambas-billionaires-club-turn-to-the-police-20210730 |url-access=subscription |date=30 Jul 2021 |access-date=2022-07-15 |work=Fin24}}</ref>
<ref name="db-mlbcmmbrs">{{cite news |title=Billionaires club members defend Mandla Lamba |url=https://thedailypost.co.za/billionaires-club-members-defend-mandla-lamba/ |date=2 Aug 2021 |access-date=2022-07-15 |work=The Daily Post |url-status=live |archive-url=https://web.archive.org/web/20210802110311/https://thedailypost.co.za/billionaires-club-members-defend-mandla-lamba/ |archive-date=2021-08-02}}</ref>
<ref name="dp-agtceo"><!-- regurgitated PR -->{{cite news |title=Agilitee South Africa announces new CEO |url=https://thedailypost.co.za/agilitee-south-africa-announced-new-ceo/ |date=2 Sep 2021 |access-date=2022-07-15 |work=The Daily Post |url-status=live |archive-url=https://web.archive.org/web/20211112032629/https://thedailypost.co.za/agilitee-south-africa-announced-new-ceo/ |archive-date=2021-11-12}}</ref>
<ref name="f24-FSCAwarn">{{cite news |title=FSCA warns public against 'billionaires' club' director Mandla Lamba |url=https://www.news24.com/fin24/companies/finance-watchdog-warns-public-against-mandla-lamba-20210909 |date=9 Sep 2021 |access-date=2022-07-15 |work=Fin24 |url-status=live |archive-url=https://web.archive.org/web/20210909223054/https://www.news24.com/fin24/companies/finance-watchdog-warns-public-against-mandla-lamba-20210909 |archive-date=2021-09-09}}</ref>
<ref name="iol-FSCAwarn">{{cite news |last=Maleke |first=Dieketseng |title=Mandla Lamba's companies are not registered to render any financial advice : FSCA |url=https://www.iol.co.za/personal-finance/investments/mandla-lambas-companies-are-not-registered-to-render-any-financial-advice-fsca-2863e9af-2a13-4ca4-9d47-fd1ef9c830ba |date=14 Sep 2021 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20210915210541/https://www.iol.co.za/personal-finance/investments/mandla-lambas-companies-are-not-registered-to-render-any-financial-advice-fsca-2863e9af-2a13-4ca4-9d47-fd1ef9c830ba |archive-date=2021-09-15}}</ref>
<ref name="iol-FSCAdeny">{{cite news |last=Maleke |first=Dieketseng |title=Mandla Lamba denies claims made by FSCA that he is offering financial advice to the public |url=https://www.iol.co.za/personal-finance/investments/mandla-lamba-denies-claims-made-by-fsca-that-he-is-offering-financial-advice-to-the-public-f67ad532-8193-45af-9b0a-a3a2017b0623 |date=16 Sep 2021 |access-date=2022-07-15 |work=Independent Online |url-status=live |archive-url=https://web.archive.org/web/20210917050134/https://www.iol.co.za/personal-finance/investments/mandla-lamba-denies-claims-made-by-fsca-that-he-is-offering-financial-advice-to-the-public-f67ad532-8193-45af-9b0a-a3a2017b0623 |archive-date=2021-09-17}}</ref>
}}

{{Improve categories|date=July 2022}}

[[Category:Living people]]
[[Category:Year of birth missing (living people)]]
[[Category:South African fraudsters]]

Latest revision as of 14:32, 3 April 2024

Mandla Lamba
Born
South Africa
OccupationFraudster
Years active2010, 2021–present
Known forSouth Africa's "youngest billionaire", "fake billionaire"
Criminal chargesFraud, culpable homicide
Criminal penalty10 years imprisonment
(3 years suspended)
Criminal statusReleased

Mandla Lamba is a South African scammer, known for having acquired a fake reputation as the country's "youngest billionaire" and a successful mining tycoon before being exposed.[1][2] He was arrested on fraud and homicide charges in May 2011[3][4][5] and was imprisoned before becoming active again in 2021 following his release from jail.[6]

Rise to notoriety

[edit]

In 2010, South African media hailed Lamba as an inspirational example of young entrepreneurship and Black Economic Empowerment (BEE), based on his claims of having risen from underprivileged beginnings to become, at age 25, a wealthy businessman who owned gold, diamond and manganese mines in South Africa, Zambia and the Republic of the Congo.[2][7][8] He was the executive chairman of East American Resources, a "mid-tier mining company" that he claimed was worth "billions".[1][2][7] Lamba cultivated a public image of a successful businessman, living a lavish lifestyle and flaunting his supposed wealth by driving expensive sports cars, hiring three bodyguards and spending extravagant amounts of money at nightlife establishments.[1][7][8]

Lamda's reputation began to be called into question after Investec Bank refuted claims by Lamba that he had been offered a directorship at the bank but had to decline because he was "too busy".[4][7] This raised suspicions, and investigative journalists began looking into his background only to find that his life story, academic qualifications, and business dealings all lacked credibility.[4][7][8] He was found to have operated an insurance and financial services company without a proper registration with the Financial Services Board; it sold final expenses insurance and offered debt consolidation services, but customers did not receive the services they paid for, and its employees were also owed wages.[4][7] It was also discovered that Lamba was listed in a fraud database and had previously twice defaulted on debt.[7]

It was found that Lamba was wanted by police for culpable homicide in relation to a 2007 traffic accident in Roodepoort that led to two deaths, having absconded from the criminal proceedings.[1][2][7][9] He was also wanted on multiple charges of fraud – six in Gauteng, five in KwaZulu-Natal and one in Free State.[1][2] In one instance, Lamba was alleged to have cheated multiple taxi drivers of R40,000 each by promising that he would help purchase new vehicles for them at lower prices; charges had been filed, but he fled "when the case was in its final stages".[1][2][9]

Following the publication of the exposé in City Press on 7 November 2010, business partners of Lamba also came forward to accuse him of defrauding them, or lying about the nature of their dealings, such as misrepresenting preliminary negotiations as deals that had been completed, or were close to finalization.[4][7][10] Lamba resigned from the chairmanship of East American Resources, but denied that this was connected to the allegations against him and the resulting negative publicity.[10]

Lamba then gave an interview on 12 November 2010 with radio station SAfm in which he lambasted several journalists for "misquot[ing]" and "writ[ing] lies" about him, vehemently attacking and threatening the author of the exposé in particular.[8][10] Lamba repeated prior allegations that there was a conspiracy by "former allies", "rivals and enemies" to "harass" and discredit him.[1][8] In an unusual move, prominent businessman, politician and future President of South Africa Cyril Ramaphosa personally called the radio station to issue a public denial that neither he nor his wife, physician and businesswoman Tshepo Motsepe, had any connection with Lamba,[8][10] refuting Lamba's previous claims that they had been his "mentors, counsellors and parental guiders".[2][7][8]

2011 arrest

[edit]
Nelson Mandela Square in Johannesburg
Nelson Mandela Square, the site of Lamba's arrest in May 2011

After several months of successfully evading the police, for which he was dubbed "BEE Houdini" by the press,[11] Lamba was arrested in Nelson Mandela Square in Sandton, Johannesburg on 10 May 2011 on 15 charges of fraud and one of culpable homicide after police were tipped off about his location.[3][4][5][11] It was reported that he had supported his fancy lifestyle with a "small fortune" made from "several fraudulent deals and online scams";[12] he also reportedly failed to pay the security company that provided his bodyguards.[2][11]

Lamba had actually been caught by police several months earlier, when he was arrested together with three friends and his three bodyguards at Cresta Shopping Centre in Johannesburg, in October 2010, in relation to a chain of jewellery store robberies.[1][2][11] They were released when this was found to be in error; police did not realize that Lamba was a wanted person as they had not taken his fingerprints.[1] Lamba retained the services of high-profile lawyer Zola Majavu in relation to this case; Majavu secured the release of Lamba and his associates and the return of their confiscated mobile phones, also filing a R14 million lawsuit against the police for false arrest.[2][11] Majavu quit his representation of Lamba upon the latter's arrest, citing R120,000 in unpaid fees.[2][11]

Criminal proceedings against Lamba were repeatedly postponed to allow more time for further investigations to be conducted, as more allegations against him had surfaced following news of his arrest;[13][14][15][16][17] there were eventually 23 charges against him.[18] There were further delays when Lamba's attorney withdrew from the case, complaining that Lamba issued "contradictory instructions" each time they met.[18]

Due to his history of absconding from criminal proceedings, Lamba was considered a flight risk and his legs were shackled for court appearances; his lawyer's petitions to have the leg irons removed were rejected.[19][20] Likewise, in June 2011, Lamba was denied bail by the Orlando magistrate's court, as two residential addresses that he had provided in the bail application turned out to be occupied by other people when investigators visited.[15][21] This decision was upheld in a May 2012 appeal to the Johannesburg High Court, which found that Lamba had lied in his bail application that there were no other cases pending against him, and that his lack of a fixed address posed an impediment to monitoring his movements.[22][23] Furthermore, police from Roodepoort had stood by during bail hearings, ready to re-arrest Lamba immediately in the event that the Orlando court granted bail.[24]

Lamba was convicted by the Roodepoort magistrate's court in July 2015 for culpable homicide and sentenced to 10 years in prison, three of which were suspended.[25]

2021 return

[edit]

Lamba resurfaced again in 2021 as the founder and chief executive officer (CEO) of Agilitee, purported to be an electric vehicle manufacturer.[6][26]

On 2 July 2021, Lamba appeared in a broadcast on media personality Somizi Mhlongo's Instagram channel, where he showcased Agilitee and its upcoming products, one of which was "inspired by" and named after Mhlongo.[6] Mhlongo's followers were offered "special" promotional prices on the company's shares; Lamba claimed that investors would receive shares worth ten times the amount that they paid for, with the shortfall covered by future dividends.[6] Prospective investors were asked to make a bank transfer to a provided bank account number before submitting proof of payment via a WhatsApp message.[6] When asked about reports that Mhlongo's viewers subsequently experienced difficulties when trying contacting Agilitee by email and telephone, Lamba suggested that they may have used an incorrect email address, and said that the company had 11 employees at its call centre.[27] Meanwhile, in response to criticism for giving Lamba a platform, Mhlongo said that he "doesn't do due diligence on the companies that use him as an 'influencer'" and asserted that Lamba had been "rehabilitated" after serving his prison sentence and "deserved a second chance".[6] The company also put out a statement in defence of Lamba, saying that its board was proud of his "ability to turn around a messy past to a great future".[6]

Lamba also repeatedly made claims, both in the Instagram broadcast and elsewhere, to the effect that the banks Capitec and Absa were "in partnership" with the Agilitee venture.[27][28] However, both banks refuted this when queried by journalists, denying that they had any business relationship with the company.[27] Absa also said that Agilitee had been warned to cease and desist from using their brand in its marketing.[27]

In another investment scheme that was also endorsed by Mhlongo, Lamba reportedly promised that members of the "Mandla Lamba Billionaires' Club" (MLBC) would be able to receive a "guaranteed" monthly income of R1 million, for an initial investment of just R150,000;[29][30][12][31] some people who say they have fallen victim to this have sought help from the police.[29][30] However, other MLBC members called this a mischaracterisation of the club, saying that the money paid was "merely membership fees and not investment capital".[32] They claimed that the club was a non-profit organisation, but that its members are, according to their membership tier, eligible to earn a commission for selling "training materials" for Verityhurst Academy – another Lamba venture that teaches people "how to trade shares on the JSE".[31][32]

In September 2021, South Africa's Financial Sector Conduct Authority (FSCA) issued warnings regarding Lamba and four of his ventures – Agilitee, MLBC, Verityhurst Academy, and private equity firm Verityhurst Capital – stating that they were not authorised by law to provide financial advice or intermediary services. The FSCA statement noted reports that they were "conducting an unregistered business and offering shares to members of the public on social media and other broadcasting platforms, promising them unrealistic returns" and urged "caution" in business dealings with Lamba.[30][12]

Lamba responded by issuing a denial, stating that neither he nor the companies affiliated to him "provide any financial advice". According to his statement, Verityhurst Academy only offered training, and did not serve as an intermediary for trading shares; MLBC was a non-profit organisation that did not "sell any products to its members or the public", even though it "had offered shares to its members and investors were encouraged to buy shares".[31] Lamba also clarified that he had left the position of CEO at Agilitee South Africa, having handed the post over to the Chief Operations Officer.[31][33] However, he remained on the board of the company, and continued to serve as CEO of its parent company Agilitee Africa.[33]

References

[edit]
  1. ^ a b c d e f g h i Hawker, Diane (7 November 2010). "So young, so rich, so many questions". Independent Online. Archived from the original on 15 July 2022. Retrieved 15 July 2022.
  2. ^ a b c d e f g h i j k Mashaba, Sibongile (12 May 2011). "Bogus billionaire's trail of debts". SowetanLIVE. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  3. ^ a b "'Youngest billionaire' is nabbed". Independent Online. 11 May 2011. Archived from the original on 30 June 2022. Retrieved 15 July 2022.
  4. ^ a b c d e f "SA's fake 'young billionaire' arrested". Fin24. 11 May 2011. Archived from the original on 21 July 2022. Retrieved 15 July 2022.
  5. ^ a b "SA's 'youngest billionaire' arrested". SowetanLIVE. 11 May 2011. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  6. ^ a b c d e f g Wasserman, Helena (3 July 2021). "SA's 'fake billionaire' is back, now selling shares on special to Somizi's followers". Fin24. Archived from the original on 3 July 2021. Retrieved 15 July 2022.
  7. ^ a b c d e f g h i j "Mining tycoon a lying fake". City Press. 7 November 2010. Archived from the original on 4 July 2021. Retrieved 15 July 2022.
  8. ^ a b c d e f g Naik, Sameer (13 November 2010). "Damned lies, all lies – Lamba". Independent Online. Archived from the original on 30 June 2022. Retrieved 15 July 2022.
  9. ^ a b Mashaba, Sibongile (17 May 2011). "Billionaire's high life shackled". SowetanLIVE. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  10. ^ a b c d Hawker, Dianne (14 November 2010). "Lamba: They are denying me". Independent Online. Archived from the original on 30 July 2021. Retrieved 15 July 2022.
  11. ^ a b c d e f Mokati, Noni (14 May 2011). "Cops burst Lamba's Moet bubble". Independent Online. Archived from the original on 30 June 2022. Retrieved 15 July 2022.
  12. ^ a b c Maleke, Dieketseng (14 September 2021). "Mandla Lamba's companies are not registered to render any financial advice : FSCA". Independent Online. Archived from the original on 15 September 2021. Retrieved 15 July 2022.
  13. ^ "'Youngest billionaire' case postponed". Independent Online. 17 May 2011. Archived from the original on 30 June 2022. Retrieved 15 July 2022.
  14. ^ "Mining 'billionaire's' case postponed". Independent Online. 25 May 2011. Archived from the original on 15 July 2022. Retrieved 15 July 2022.
  15. ^ a b "More time for 'youngest billionaire' probe". Independent Online. 9 June 2011. Archived from the original on 15 July 2022. Retrieved 15 July 2022.
  16. ^ Mkize, Vuyo (28 June 2011). "Lamba trial postponed for further investigation". Independent Online. Archived from the original on 15 July 2022. Retrieved 15 July 2022.
  17. ^ Seleka, Ntwaagae (9 September 2011). "Lamba's court case postponed again". SowetanLIVE. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  18. ^ a b Mooki, Omphitlhetse (30 October 2012). "Soweto billionaire's attorney quits case". Independent Online. Archived from the original on 30 June 2022. Retrieved 15 July 2022.
  19. ^ Mashaba, Sibongile (28 June 2011). "Lawyer wants client unshackled". SowetanLIVE. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  20. ^ Mashaba, Sibongile (1 August 2011). "Lamba fails to get rid of leg irons". SowetanLIVE. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  21. ^ Mashaba, Sibongile (9 June 2011). "Court denies bail to 'child of God' Lamba". SowetanLIVE. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  22. ^ Mooki, Omphitlhetse (31 May 2012). "Court refuses bail for accused swindler". Independent Online. Archived from the original on 30 June 2022. Retrieved 15 July 2022.
  23. ^ Sithole, Bongiwe (31 May 2012). "Man of no real address". SowetanLIVE. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  24. ^ Mashaba, Sibongile (25 May 2011). "Bail too hot for Lamba". SowetanLIVE. Archived from the original on 26 July 2022. Retrieved 26 July 2022.
  25. ^ Raba, Buchule (30 August 2015). "Mandla Lamba jailed". Sunday World. Retrieved 15 July 2022.
  26. ^ "Agilitee teams up with eBikeGo to produce electric motorcycles in Africa". Independent Online. 27 May 2021. Archived from the original on 27 May 2021. Retrieved 15 July 2022.
  27. ^ a b c d "Capitec and Absa say 'fake billionaire' lied about partnerships". Fin24. 7 July 2021. Archived from the original on 7 July 2021. Retrieved 15 July 2022.
  28. ^ [SPONSORED] "Webinar: Is Africa ready for electric vehicles?". Mail & Guardian Online. 1 July 2021. Archived from the original on 1 July 2021. Retrieved 15 July 2022.
  29. ^ a b Cronje, Jan (30 July 2021). "Worried members of Mandla Lamba's 'billionaires' club' turn to the police". Fin24. Retrieved 15 July 2022.
  30. ^ a b c "FSCA warns public against 'billionaires' club' director Mandla Lamba". Fin24. 9 September 2021. Archived from the original on 9 September 2021. Retrieved 15 July 2022.
  31. ^ a b c d Maleke, Dieketseng (16 September 2021). "Mandla Lamba denies claims made by FSCA that he is offering financial advice to the public". Independent Online. Archived from the original on 17 September 2021. Retrieved 15 July 2022.
  32. ^ a b "Billionaires club members defend Mandla Lamba". The Daily Post. 2 August 2021. Archived from the original on 2 August 2021. Retrieved 15 July 2022.
  33. ^ a b "Agilitee South Africa announces new CEO". The Daily Post. 2 September 2021. Archived from the original on 12 November 2021. Retrieved 15 July 2022.
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