Africrypt Saga Experiences a New Twist

It appears that there is a new twist in the Africrypt saga, as contradicting claims have been made by two different reports regarding the whereabouts of Ameer and Raees Cajees. The Cajees brothers are the two brothers of the bitcoin investment firm and there is one common fact highlighted by both reports; it appears they had planned their escape before the alleged hacking incident occurred back in April. Daily Mail, the UK outlet reported that there were documents, which suggested that Raees had obtained citizenship in Vanuatu back in October of 2020 for a value of $131,000 (£95,000). A similar purchase would be made by his brother three months later.

Cajees brothers were also quoted in the same report and it suggested that fears over a criminal gang wanting to harm them had prompted them to disappear. Interestingly, a Moneyweb report corroborates the claims by the brothers that they had chosen to flee South Africa in order to avoid harm by an organized crime syndicate. This report also quotes the two brothers where they claim that they had been sent death threats after Africrypt collapsed. Raees used these death threats to explain their joint decision of fleeing the country altogether.

However, Moneyweb, which is based in South Africa, also apparently contradicted its assertion about the brothers hiding in Vanuatu in its report. Instead, the report highlighted an affidavit that Raees had signed, which indicates that he could have been in Tanzania when the document was signed. Apparently, it was a decision of the South African High Court that prompted the signing of a document for granting a provisional liquidation order against the bitcoin investment firm, Africrypt. It was reported by the Moneyweb that the High Court would be ruling on whether to grant the final order or refrain from doing so in the next couple of months.

However, before the court delivers its ruling, interested parties are going to argue their case, which has prompted Raees’ affidavit. According to this affidavit, Raees has once more denied claims that funds of investors of about $3.6 million have gone missing under the watch of the Cajees brothers. Instead, Raees stated that the amount that has disappeared is closer to a value of $6 million. Moreover, the allegations that were made regarding Africrypt having a bank account at FNB were also rejected by Raees in his affidavit.

Likewise, he also rejected the assertions that the bitcoin investment company had made an investment in cryptocurrencies. He also repeated the long-shot argument that Africrypt’s management has been making about the investment firm not being held liable for any of the losses that investors have suffered. For now, the decision rests on the South African High Court and until that ruling comes, the investors who have suffered because of the company will continue to take action. It remains unclear whether the Cajees brother was really threatened by criminal groups, or had just used it as a ruse to steal investors’ funds and escape the country.

Jerry Dedmon

Author: Jerry Dedmon

Jerry Dedmon is a new writer on Cryptocoin Stock Exchange, his articles are cryptocurrency news, analysis and blockchain news based. We recommend tuning in for Jerry's daily posts as they are always a great and interesting read.

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