Alleged Cryptocurrency Fraud in South Africa Probed After Brothers Vanish - Bloomberg
South African police are investigating a number of criminal cases brought by out-of-pocket investors who want two brothers arrested over an allegedly fraudulent cryptocurrency platform.
A group of investors are seeking the arrest of Raees and Ameer Cajee, who ran the Africrypt platform, after a number of them were offered some of the lost investment by a #Dubai-based mystery investor known as Pennython Project Management LLC. They haven’t been found guilty of any wrongdoing and the probes may come to nothing.
Work is underway in four South African provinces and cities including Johannesburg and Durban, Lieutenant Colonel Philani Nkwalase, from the Hawks police unit, said in a response to questions from Bloomberg.
“There are multiple victims in these cases,” said Nkwalase. “Investigations are ongoing.”
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