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January 22, 2022
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Investors in Collapsed South African Crypto Platform Push for Jailing of Africrypt Directors – Regulation Bitcoin News

A bunch of buyers in Africrypt are reportedly pushing to have felony costs pressed towards administrators of the now-defunct cryptocurrency funding platform. Opponents of the transfer have argued that this push is unlikely to succeed as a result of many of the buyers have already been reimbursed half of their funds.

Mystery Investor Injects More Than $5 Million Into Africrypt

In a brand new twist to the Africrypt saga, a bunch of buyers in the collapsed cryptocurrency funding platform is reportedly taking steps to make sure felony costs are leveled towards the agency’s two lacking administrators. The transfer by these buyers comes just some weeks after a thriller investor paid greater than $5 million to rescue Africrypt.

According to a Bloomberg report, this group of buyers desires the matter resolved rapidly and has raised the likelihood of pursuing the case by way of a personal prosecution. These buyers are being represented by Sean Pierce of Coast to Coast Special Investigations. In an interview, Pierce explains why the buyers need felony costs pressed towards the crypto platform’s two administrators, Raees and Ameer Cajee. He stated:

We are pushing for the brothers to be charged for fraud, theft, presumably cash laundering. They can get 10 to fifteen years for a first-time offense.

Criminal Charges

However, some — together with a lawyer that’s representing Africrypt — have recommended that the push to have the Cajee brothers criminally charged is unlikely to succeed. They argue an association {that a} majority of buyers agreed to earlier than being reimbursed successfully offers management of all their claims towards Afrcrypt to the thriller investor.

As beforehand reported by Bitcoin.com News, a majority of Africrypt buyers had agreed to the phrases proposed by Pennython Project Management LLC, a Dubai registered agency. Under the proposal, buyers could be paid an equal of 65 cents for each greenback invested.

Although Pierce is quoted in the report admitting that some of the buyers he represents have been certainly reimbursed, he insisted, nonetheless, that buyers “are still pushing forward with the criminal case as there is still money lost.”

Do you suppose these buyers will succeed in their bid to have the Africrypt administrators jailed? Tell us what you suppose in the feedback part under.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, creator and author. He has written extensively in regards to the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.

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