Illegal forex traders want CBL boss out

Illegal forex traders want CBL boss out

MASERU – SCORES of Basotho who invested in an illegal money scheme, Hlazvill Forex Trading, say they want Central Bank of Lesotho (CBL) governor to resign.
Earlier this year, the CBL boss, Dr Retšelisitsoe Matlanyane, warned that Hlazvill Forex was trading illegally and whoever was investing in it was doing so at own risk.
The Central Bank froze the company’s bank account three months ago after it failed to honour its pledge to pay a 50 percent return.
At a press conference in Maseru yesterday, the group argued that Dr Matlanyane had pushed for the closure of the forex trading company before they could get their money.
Hlazvill Forex Trading Company is run by Tumelo Hlasa.

Teboho Lebaleha, who is working as a business consultant and forex trader, criticised the Central Bank for freezing the company’s account.
Lebaleha said Basotho had hoped that the CBL would work as a mediator in the dispute but it worked against them and failed them.
He said Basotho believe there is a group of people who are misusing their positions and power to deprive them of economic opportunities.
Lebaleha said despite the warning by the Central Bank, Hlazvill Forex Trading Company had managed to pay all its investors on their due dates.
He said this showed that Hlazvill Forex was not a pyramid scheme.

“We are confused because the Central Bank is not helping the economy grow but is causing the downward trend of economic growth,’’ Lebaleha said.
“By January we will be holding a protest demanding that the governor should resign,” he said.
’Maeeang Mphuthing, one of the investors in Hlazvill Forex trading, said she invested in forex and received her money together with interest within three months.
“I got a call from Hlasa reminding me of my payment which was due,’’ she said.

Mphuthing said she then invested her last money which she wanted to use to build a new house.
She said her mother is now 80 years old and her sister is working in the factories.
“When I was going to claim the money, I heard that the money had been frozen,’’ she said with a trembling voice. She then collapsed.
After a long break, she stood up and told the conference that people from the Central Bank told them they could no longer get their money with the interest.
“Even the initial amounts they did not explain when we would get them,’’ she said.
She said she was appealing to the

Alliance of Democrats (AD) spokesman, Thuso Litjobo, who was also at the press conference, said Basotho who invested in the scheme must get what belongs to them.
CBL spokesman Ephraim Moremoholo said the bank will issue a response on the allegations in due course.

Refiloe Mpobole

Previous Sekhametsi braces for bruising legal battle
Next DCEO boss says hands are tied

Warning: count(): Parameter must be an array or an object that implements Countable in /home/thepostc/public_html/wp-content/themes/trendyblog-theme/includes/single/post-tags-categories.php on line 7

About author

You might also like


The triumph of hope

MASERU-WHEN Lesotho’s borders were tightly shut on March 31 to keep out the Covid-19 pandemic, ’Marethabile Sekhiba immediately knew that her tourism business was in trouble. Yet even before the


Fresh fight over wool and mohair

MASERU – Lesotho’s farmers have filed an urgent application in the High Court seeking to block the export of their wool and mohair which was auctioned at the Thaba-Bosiu Wool Centre


MP’s car seized over illegal gun

MASERU-SPEAKER of Parliament, Sephiri Motanyane, was heckled yesterday as MPs demanded to know why Dr Mahali Phamotse’s car had been seized after the police found an illegal gun inside it.Motanyane