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Lebo M slams fake reports claiming he made R37-million off Bitcoin

Lebo M.
Lebo M.
Image: Mduduzi Ndzingi

Lebo M has warned fans about a fake story circulating online claiming he had made millions after nailing the Bitcoin game.

The article‚ which was shared by Lebo on social media this week claims that after he went "broke in 2017" he discovered a Bitcoin trading platform that saw him coin it. It further claimed that he made the revelation on a popular morning show.

If it sounds too good to be true‚ that's because it is and The Lion King producer was quick to shut down the claims and label them as fraud.

"Warning! There is a fake news story about Lebo M and Bitcoin. I have no clue what this is about and have done no breakfast show of any sorts. It is fraud."

He was encouraged by his followers to take action against the scammers.

The reports of Lebo M going bankrupt are not false though. As he explained to TshisaLIVE last year he filed for a US court chapter 11 order which protected him against creditors for a limited time to allow him to reorganize his business interests.

"There is a difference between bankruptcy and chapter 11. I am happy. There was a need to realign the financial structure in Los Angeles based on a number of things but it was a strategic realignment. It was a rearrangement of an incoming new infrastructure that is handling my business management‚" Lebo M said.

Despite this he said he was not broke or fazed by the constant scrutiny around his finances or any part of his life.

"I don't pay attention to it. I am too focused on my businesses and projects."

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