In a new twist in the Africrypt saga, two different reports made conflicting claims about the whereabouts of the two directors of the failed Bitcoin investment company, Raees and Ameer Cajee. However, both reports indicate that the Cajees brothers had planned to escape before the alleged hack in April.
Vanuatu or Tanzania
In its Report, The British media “Daily Mail” claimed to have seen documents indicating that Raees purchased Vanuatu citizenship for approximately US$131,000 (£95,000) in October 2020. About three months later, Ameer will make a similar purchase. The same report quoted the Kargis brothers as saying that their disappearance was due to fear that the criminal gang wanted to harm them.
Interestingly, the brothers claimed that they fled South Africa to avoid being harmed by organized crime groups, which seems to be confirmed by the Moneyweb report.At this Report, Quoting the Cajees brothers, they received death threats after Africrypt crashed. Raees used these death threats to justify their joint decision to flee the country.
However, in its report, South Africa-based Moneyweb appeared to contradict the claim that Raees and his brother were hiding in Vanuatu. Instead, it points to an affidavit signed by Raees stating that he may have been in Tanzania when he signed the document. The signing of the affidavit was apparently due to the decision of the South African High Court to issue a provisional liquidation order against Africrypt.
As the Moneyweb report points out, in the next few months, the High Court is expected to decide whether to grant a final order. However, before this ruling was made, the interested parties were arguing about their case, hence Raees’ affidavit.
At the same time, in his affidavit, Raees once again refuted the loss of US$3.6 billion in investor funds. Missing Under the supervision of the Kagi brothers. On the contrary, Raees suggested that the amount involved is close to US$6 million. Also in his affidavit, Raees denied the allegation that Africrypt had a bank account in FNB or the assertion that the investment company invested in cryptocurrencies. He also reiterated the long-term argument of Africrypt’s management that investment companies should not be held responsible for losses.
Is liquidation the best way to recover lost investor funds? Tell us what you think in the comments section below.
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