- Brothers Raees Cajee and Ameer Cajee maintain that their company Africrypt was indeed hacked and millions in funds stolen
- Through a statement issued by lawyer John Oosthuizen, the brothers said they have been keeping themselves and their family safe, not hiding
- The Financial Sector Conduct Authority stated that Africrypt can be considered a Ponzi scheme, which is illegal
Raees Cajee and his brother Ameer Cajee have finally spoken out about the missing Bitcoin funds, stating that only R71 million worth of bitcoin is missing and not the previously reported R51 billion.
In a report by Fin24, the brothers explained that they have very dangerous people among their clientele and they were threatened.
The Cajee brothers, through their lawyer John Oosthuizen, stated on 25 June that they have been receiving countless death threats. The brothers allege that they didn't contact the police when the breach on the platform happened because they wanted to protect themselves and their family first, according to IOL.
The Cajee brothers were accused of disappearing with R51 billion worth of bitcoin through their cryptocurrency platform Africryt. The brothers told investors that a breach on their platform had taken place and had seen not gotten back to investors with regard to their investments.
Oosthuizen further stated that there was no merit to the accusations against the Cajee brothers, emphasising that they were indeed hacked.
"They maintain that it was a hack and they were fleeced of these assets," he said.
However, on Monday, 28 June, Oosthuizen stated that their contract with the Cajee brothers had been terminated and are no longer representing them.
The Financial Sector Conduct Authority (FSCA) said that Africrypt was functioning as an unlawful investment scheme known as a Ponzi scheme, stating that the company was offering unrealistic and incredibly high returns.
"The public is urged to understand that unrealistically high returns suggests that the investment scheme is likely to be fraudulent," they stated.
The FSCA added that cryptocurrency assets are not regulated in South Africa and as a result, they are not in the position to take regulatory action in such cases.
Mzansi celebrates ambitious man after securing 2 more investment properties
Briefly News reported that a South African man has inspired social media users as he just bagged two more investment properties in his portfolio. The man has now credited God for all the blessings in his life.
@Habs_ says he has been working on the deals for the past two months and now that he has achieved, he shared the good news on Twitter.
“I’ve been working on this for the past two & half months. I got great discounts on the property purchase price, bond & transferring attorney fees. Never forget or be reluctant to negotiate!”
The post reads:
“I’ve just added two more investment properties to our property portfolio. All Glory God.”
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