Kara said as a result of the advertisements, a number of people deposited funds into Coinit’s bank accounts.
“In the investment agreements with investors and as per the advertisement, Coinit advised that the money would be used by the company and its directors to purchase rigid trucks, older truck-horses, newer truck-horses, TLB’s, and other building plant materials,” Kara said. The current preservation orders, granted in July 2021 and August 2021 respectively, relate to Coinit purchasing other assets such as a mining shaft, namely Joint shaft, and Wesselton Plant situated in Kimberly with a total value of R36m; a Cessina 175 Skyland aircraft valued at R550 000 and shares in Sikhova Environmental Building Solutions for R12m.“The preservation orders prohibit any person with knowledge of its existence from dealing in any manner with the properties.
Brother in law invested R150k kuleBhanoyi😂
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