Africrypt Investors Now Seeking To File Criminal Charges Against Executives For Purportedly Facilitating Fraud Worth Over $3.6 Billion

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Investors of Africrypt are now reportedly on the cusp of filing criminal charges against the South African crypto platform’s executives, namely the Cajee brothers – Raees and Ameer, for allegedly facilitating a multi-billion dollar fraud. And they have all the reason to believe. The brothers behind Africrypt have now seemingly vanished since last year’s summer with over $3.6 billion worth of Bitcoin (BTC) in tow.

As per Bloomberg’s interview with some of the victims, Coast to Coast Special Investigations’ own, Sean Pierce, is personally helping them to charge the Cajee brothers of fraud and, possibly, money laundering as well. According to Pierce, the two could face 10 to 15 years in prison for a first offense once proven guilty.

Meanwhile, the defense lawyer representing Africrypt, Rashaad Moosa, has reportedly stated that prosecution would prove difficult because those who claim to be victims had voluntarily signed agreement papers that would transfer claims to Pennython Project Management. As per Moosa, the Dubai-based firm offered the investors payouts, meaning they no longer have the right to any interest.

As of press time, the exact location of both Raees and Ameer Cajee is still unknown. However, when Africrypt officially ceased operations last April 2021, allegedly due to an irreparable systems breach that siphoned user funds, some believed that the brothers fled to the United Kingdom. Notably, it is only now that investors are pursuing criminal charges as they were told that reporting to the authorities would only make the recovery of lost funds much harder.

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