Forex trader "Grootman" discontinues operations when Instagram owner Meta claims he broke rules.

Themba Selahle's Instagram page has been deactivated, days after SA's financial watchdog warned the public that he lacked a license to trade foreign currencies for customers. Themba Selahle is better known online as “Grootman.”

A notice stating “Sorry, this page isn't accessible” appears while attempting to access the page. Selahle had 340 000 followers prior to the site being down.

It's unknown whether Instagram took down the page or if Selahle himself erased it.

Selahle was discovered to have broken Instagram's rules, according to a Meta representative. Meta claimed to have taken “proper measures,” but did not elaborate.

Without elaborating on how he did it, Selahle claimed to be able to achieve significant, almost instantaneous returns for investors by trading currency. His feed was filled with pictures of extravagant shopping trips and pricey automobiles.

The Financial Sector Conduct Authority (FSCA) issued a warning earlier this month that he lacked the necessary authorization to provide any financial services or trade FX for customers. It advised the public against doing business with him, claiming he promises “excessive and unjustified” profits and bans investors who protest.