South African lady narrates how her white partner ganged up with their people and removed her from the company she founded with 51% share.
Dreams of becoming a CEO is in a male-dominated sector, is not easy to attain, but have worked so hard to attain to a certain level of height in life, only to be sabotaged by your partner must be one hell of an experience in life.
A lady who goes by the name Xolie Nkosi @colour_woman has exposed how her white partner colluded with their people to get o=her out of the company she founded in 2004.
Kindly read the details of her story and share!
2004; I became a 51% shareholder with a white partner;
All was well; they were getting jobs, i was getting jobs for us thinking to myself; we are building an empire, kanti back at the ranch they have their own plans kanna; anyway
I got a tip-off that I was being played
13 years later, I found out that they were getting projects from @Engen_SA
Multi-million projects; I then confronted them and for almost 2 years I thought I will be able to talk to them, so we can sort things out; haayi not them; they sent their lawyers forced me to resign
I didn’t resign; however, I couldn’t afford attorneys; Ohhhh my; I went through the worst 2 years of my life; I was bullied; summons were delivered; literally every week; I was frightened; depressed; had no idea to fight this thing; went to
To tell my story; emailed a lady named Unathi; she was a BEE transformation Specialist Director Nogal; one of the useless people I have ever come across; she just said to me ” these people are so cruel” and that was the end of it; no follow-up email or phone call; niks
anyway back to my partners, I didn’t realize that they were that connected; they had people with power in their pockets; they were so connected to a point when i reported them they kept getting work; i then realized that I am not going to win this battle; I took another angle
They had another project amounting to about 48 Million; a Namibian Residence; I went to the Embassy introduced myself; ohhh boy this guy was extremely rude as I explained my situation; now I have no hope and just when I say to myself let me just give up
November 2019. I get an email from their attorneys again; very condescending yohh guys; did I mention I have a chest problem & now and then would be at the hospital; thank God for Edenvale Hospital doctors; sometimes I would receive those emails whilst in hospital
Where was I? Ohhh yahhh So Nov 2019 I get this condescending email from their lawyer; I was like that’s it..Kgolekane; went to seek help from all angles hey; even went to EFF South Africa offices, but unfortunately they had too many cases and my case needed immediate attention
God’s grace; I find a lawyer who says ” I will take your case on Contingency” great; he immediately emails this cow and 2020 March; goes to court; makes sure that I get in involved in the Namibian Embassy project; guess what the project is almost completed and COVID-19 starts
Now I have access to contractual documents right; i then find out partners forged my signature to change the account and obtain about 13bar; i open up a fraud case against them; they are currently out on bail; June; Cupcake opens up the country; now we have to get back to work
They then offer me 4.5 million to walk away; 3M in Oct. once the Embassy project is completed and balance R100k on a monthly basis; did I mention that during 2015-2020 their income was 80 million on 1 client,. Yohhh I was tempted but there was no offer there, it had conditions
So I declined the offer and guess what they resigned; took all the money left me with a project; without money; had to borrow monies from friends and abomashonisa to complete the project; 50% interest; completed the project eventually; payment time..dololo
3-July End-user moves in the house.
They refuse to pay 3months later after accumulating interests they decide to pay a portion; OK.let me finish my story so the Principal-Agent is in Cahoots with my previous partners, now he never came to check up on the project
Even after they could travel; i guess because they wanted to give me a hard time; guyzini they were eating in that project; these guys were just paying without inspecting the work.
Did I mention the house has 23 toilets just bad Architecture, now bahana ho patella hle. I am tired
Like they refuse to pay me for what mara; they have been paying my partners millions even for the things that they didn’t do. Fast-forward 2021 4th Jan we find out my partners registered another company in 2011 where I am also a Director; this I didn’t know about
…… To be continued
Guys I don’t remember signing for a new company; that’s the honest truth; we then discover that this new company that I am not aware of has been getting projects from ABSA and Standard Bank, and then I text one of my ex-partners; and ask him; how do you live with yourself?
How do you not take care of my kids at least; (eish let’s not go there guys)I felt defeated; guess what he said; “You knew about the company we have your original signatures”.. .OK then I want my shares right of the company that made an extra 40Million; that’s my company, right?
25 January 2021 we meet in court for the criminal case; they then greeted me; it was like I am dreaming vele; like I am in shock, I wanted to cry, but I held myself together and one of them came to me and asked if we could meet the very next day
Like a fool I was, so they thought; I agreed to meet only this time, I was in control with -61 bank balance in my account and with all the monies they have stolen; I had so much power the devil himself couldn’t even compete with me that’s how much power I had.
So I met with one of them; he begged me to drop my lawyers and all charges only this time there’s no offer on the table ohhh yes there is no offer but a monthly income. I looked at him with a victorious look and a grin and said “there is no Lawyer that can help you now
only one person that can and that’s me; as for the monthly income I DON’T want it, mara wena; Look at me, you are going to jail” & I walked out, we found out a lot of things guys during discovery; some are I cannot record here but all I can say Mabhuru aja Bathong
Anyway back to my Embassy Project; 180 days have passed; project completed still no payment heavy rains; water seeps through the walls; waterproofing wasn’t done properly; I haven’t been paid the PA sends a love letter to go and fix it or else I am not getting my retention
Bathong nthoseng;.the project is finished a long time ago; the contract has lapsed why do I need to go back and maintain that building; unless I am being paid separately; the Principal-Agent is such a racist; I have emails to prove it; I just want to expose them
Like I have no energy to fight with them any more; December we didn’t pay our guys; January I haven’t paid them as well; they just refuse to pay and there is something new in that house that needs fixing literally every day.
The 48 Million project that my company was involved in. All, not some ALL suppliers were white companies’ e.g. Security cost R3 million the guy was paid 90 per cent upfront, in reality, the security cost was 500k. The arrogance of the suppliers when I took over.
By the time I came to the project only 900 000 was left for me; it was like the QS was just punching numbers for their payments; he didn’t even know how much was left and what was done, True Story Makgowa ayile. I fought until the project was at least 2,5 million.
Guys, please don’t mind me; this is a therapy for me; I am so happy I can now say something, and maybe it’s the wrong platform but as I go back and re-read; I laugh and cry about it and laugh at how I am narrating the story to you
Good Morning; back to the Embassy Project; the Ambassador of Namibia has been supportive and very kind; he ordered the PA to give me all contractual documents when they initially refused. When I took over the project I was treated horribly, and he encouraged me not to give up.
The PA is from Namibia very mean man yohh; ke le Bhuru le pink; laba bona bao ekari di variki; eya ke bona bao; ba kgopo Man; my description about him makes it less so let me go back to my story.
I remember; I had panic attacks in the middle of the freeway; my brother’s phone call came just in time; he kept on screaming just breath; breathe Xolie breath until the next garage; they treated me so bad to a point where they made me take pictures of certain rooms in the house.
Just to see if I was on-site; they sent me emails to belittle and ridicule me copying 13 other people; in one of the emails he wrote Why didn’t you let your partner finish this Project Ms Nkosi; what have you got to lose; it will take 3 years for you guys to go court.
South Africa’s currency Rand hits ‘best level in years’
South Africa’s flagship currency Rand has staged a major recovery against the US Dollar this week, reaching the best level not seen since 2019.
The Rand briefly dipped below the $1 : R14 mark on Monday, before stabilizing between R14.00 to R14.10. But what has caused this fluctuation in the exchange rate.
This time last year, the Rand was in meltdown against the US Dollar. As the value threatened to break the R20 mark, months of gradual recovery brought the currency back to the R15 range. But, following a strong few weeks, ZAR has made in-roads on the Greenback, yet experts believe this is probably the peak of the resurgence:
“It will be interesting to see whether there is enough momentum for the rand to make a run at the 14.00 level. The expectation is for the rand to test lower, but the fact that 14.05 has held a couple of times leads us to believe that going lower could be a tough slog.
Elon Musk calls Dogecoin ‘a hustle’, admits he has Asperger’s
Tech billionaire Elon Musk says Dogecoin a hustle, He made his Saturday Night Live debut this weekend, and I’m doing so offered the public at large some significant insights into the eccentric entrepreneur’s character.
His very appearance on the famed late night show also had a cataclysmic effect on the trading price of the Dogecoin share price, which fell nearly 30% when Musk referred to the mercurial cryptocurrency as a “hustle”.
During his opening monologue, Musk admitted for the first time that he has Asperger’s Syndrome, making him the first host of SNL with the disorder. “Or the first person to admit it, at least,” he joked.
Musk’s opening monologue was certainly revealing. His “coming out” over his Aspergers condition fell during his self-deprecatory appraisal of his often strange behaviour, in which he admitted that sometimes he doesn’t convey himself in the most obvious terms, and that this might lead people to be somewhat confused.
“I don’t always have a lot of international variation in the way I speak,” he said, which he noted “also makes for great comedy”.
“I’m actually making history here tonight as the first person with Asperger’s to host SNL. I won’t make a lot of eye contact with the cast tonight, but don’t worry I am pretty good at running human in emulation mode,” he said.
He said that he believes that humanity must become a “multi-planetory space-going civilisation” and said that those who consider him strange or have been offended by his often bizarre tweets, they should consider the following:
“Look, I know I say or post strange things but that’s just how my brain works. To anyone I’ve offended I just want to say, I reinvented electric cars and I’m sending people to Mars in a rocket ship,” he said. “Did you think I was also going to be a chill, normal dude?”
Musk has been a fierce supporter of Dogecoin in 2021, going so far as to label himself the Dogefather after tweeting frequently about how the cryptocurrency is going to take over the world and fund Musk’s vision to take humanity to Mars.
Musk’s tweeting about Dogecoin has helped drive an increased price for the cryptocurrency, with the coin’s 1 cent trading price in January 2021 skyrocketing to over 70 cents during the week leading up to the SpaceX founder’s appearance on SNL.
Unfortunately, Musk’s advocacy for Dogecoin during the SNL skits on Saturday night did not have the desired impact, and the gains recorded in the run-up to his appearance were dashed by around 66 cents to just below 50 cents just hours after the show.
America Authorities have Sought Court Order to Shut Down Crypto Trading Platform Allegedly Duping Thousands of Investors
America’s authorities is seeking a court order to immediately shut down the operations of cryptocurrency exchange Platform. The attorney general previously filed a lawsuit against the crypto exchange, but the platform allegedly continued to operate and dupe investors.
The Office of Attorney General Letitia James announced Friday that the attorney general “has taken legal action to immediately halt the continued illegal and fraudulent operations of the cryptocurrency trading platform Coin seed Inc.”
A motion was filed late Thursday “asking the court for a temporary restraining order, a preliminary injunction, and the appointment of a receiver to immediately block Coinseed and its CEO from making any further unauthorized trades and safeguarding investors’ monies,” the notice reads. The receiver will “oversee all assets in an effort to safeguard investments as Attorney General James’ lawsuit proceeds.”
James filed a lawsuit in February against Coinseed and its two top executives, including founder and CEO Delgerdalai Davaasambuu. They allegedly “violated New York state laws and illegally squandered investors’ monies.”
However, in the months since the lawsuit was filed, “the greed perpetrated by Coinseed and its CEO has not only continued, but grown,” the announcement describes, adding that “Coinseed and its CEO have continued their fraud and the Office of the Attorney General (OAG) has learned of new fraudulent conduct.” Within the last three months, the OAG “has received over 130 complaints from investors who are concerned about protecting their assets due to Coin seed’s fraudulent conduct.” According to the lawsuit filed, the platform allegedly “defrauded thousands of investors across the nation.”
This company has continued to operate illegally holding investors’ funds hostage and conducting unauthorized trades in investors’ portfolios, while depleting accounts and transferring virtual currency to an offshore, unregulated trading platform.
“We filed this motion to immediately halt Coinseed’s unlawful activity and protect the investments that are left,” she concluded.
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