Investors in Collapsed South African Crypto Platform Push for Jailing of Africrypt Directors
A group of investors in Africrypt are reportedly pushing to have criminal charges pressed against directors of the now-defunct cryptocurrency investment platform. Opponents of the move have argued that this push is unlikely to succeed because many of the investors have already been reimbursed part of their funds.
We are pushing for the brothers to be charged for fraud, theft, possibly money laundering. They can get 10 to 15 years for a first-time offense.However, some — including a lawyer that is representing Africrypt — have suggested that the push to have the Cajee brothers criminally charged is unlikely to succeed. They argue an arrangement that a majority of investors agreed to before being reimbursed effectively gives control of all their claims against Afrcrypt to the mystery investor.by Bitcoin.
Although Pierce is quoted in the report admitting that some of the investors he represents were indeed reimbursed, he insisted, however, that investors “are still pushing forward with the criminal case as there is still money lost.”
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