Davids was arrested last June and released on bail of R100 000 after both he and his company, Platinum Forex, were charged with fraud for allegedly contravening the Financial Advisory and Intermediary Services Act and the Banks Act.
UDaniels waboshwa ngoJuni wangonyaka odlule nalapho adedelwa khona ngebheyili ka-R100 000 ngemuva kokuba yena kanye nenkampani yakhe, iPlatinum Forex, babekwa amacala okukhwabanisa ngezinsolo zokuphula umthetho weFinancial Advisory and Intermediary Services Act kanye noweBanks Act.