In a new twist to the Africrypt saga, two separate reports have made conflicting claims about the whereabouts of Raees and Ameer Cajee, the two directors of the collapsed Bitcoin investment firm. However, both reports suggest that the Cajees brothers planned their escape from the alleged hacker incident in April.
Vanuatu or Tanzania
In his report, UK newspaper Daily Mail claims to have seen documents suggesting Raees obtained citizenship of Vanuatu for about $ 131,000 (£ 95,000) in October 2020. About three months later, Ameer would make a similar purchase. The same report cites Cajees brothers who suggest their disappearance was triggered by fears that a criminal gang was trying to harm them.
Interestingly, the brothers’ claims that they fled South Africa to avoid being harmed by an organized criminal syndicate appear to be borne out by a Moneyweb report. This report quotes the Cajees brothers who claim to have received death threats following the collapse of Africrypt. With these death threats, Raees justifies their joint decision to flee the country.
However, South Africa-based Moneyweb appears to contradict claims that Raees and his brother are hiding in Vanuatu in its report. Instead, it points to an affidavit signed by Raees, suggesting that he may have been in Tanzania when he signed that document. The signing of the affidavit was apparently prompted by the decision of a South African high court to issue a preliminary liquidation order against Africrypt.
As the Moneyweb report notes, the High Court is expected to rule over the next few months on whether or not the final order will be issued. However, before that judgment is passed, interested parties argue their cases, hence the Raees affidavit.
Meanwhile, in his affidavit, Raees once again denies claims that $ 3.6 billion in investor funds have disappeared under the supervision of the Cajee brothers. Instead, Raees suggests that the amount in question be closer to $ 6 million. In his affidavit, Raees also rejects allegations that Africrypt had a bank account with the FNB or claims that the investment company invested in cryptocurrencies. He also reiterates the far-sighted argument made by Africrypt’s management that the investment firm should not be held liable for the losses.
Is liquidation the best way to get back the missing investor funds? Let us know what you think in the comments section below.
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