One of the founders of the AfriCrypt platform, which was previously suspected of defrauding investors worth more than $4 billion, said that they had never had such colossal assets.
Raees Cajee was interviewed by the Wall Street Journal on condition of anonymity of his current location, saying that the firm's portfolio at its peak contained just over $200 million. Consequently, there can be no question of the $4 billion lost in the hack, as the investors defrauded by the company claim. He also added that the amount of dropping funds stolen by hackers is no more than $5 million.
Answering the question of why the brothers prefer to go into hiding today, Cajee said that they decided to “flee” following they began to receive death threats from “very dangerous people”. We are talking about one of the “deceived investors” who turned out to be influential enough to try to “influence” by force on the acceleration of proceedings within the firm. Many businessmen, politicians, and celebrities, now intent on getting their money back, were their clients, he said.
Meanwhile, the South African Financial Sector Oversight Authority announced on June 24 that the project has all the characteristics of a Ponzi scheme. If this information is confirmed by a South African court, the founders of ArfiCrypt will become #1 scammers, right after another company from South Africa, Mirror Trading International, who stole 23,000 BTC from depositors.
Cajee said that he and his brother intend to return to South Africa on July 19 to participate in a court related to the liquidation of AfriCrypt. The lawyers, collectively hired by one of the defrauded investor groups, intend to recoup their clients' losses of R140 million, the equivalent of $10 million in liquidation.