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Africrypt is a cryptocurrency investment stratagem that was established in 2019. It went into shambles later on after it was deemed by South African authorities as one of those Ponzi schemes that led to its collapse. However, its name has recently re-emerged in the crypto headlines after it was learned that someone wants to buy it.
You read it right. This sneaky crypto investment scam wants to be purchased by an anonymous South African investor.
51 percent of Africrypt in one condition
Reports noted that this unknown fellow has pitched to acquire 51 percent of Africrypt’s stake for five million dollars. In exchange for such an offer, however, the mystery investor has requested the entirety of the scheme’s criminal proceedings against its board of directors be thrown out of the way.
Further, it was also learned that Africrypt creditors are scheduled to cast their votes on the above-mentioned compromise on November 12, 2021. Nonetheless, the unnamed investor’s offer can only be considered as an order of the court if this one gets 75 percent of the creditors’ support.
With that in mind, some creditors are pretty much delighted with such an update as they are leaning towards favoring the compromise. Of course, not all are happy with this recent development with Africrypt especially knowing the fact that the culprits – Ameer and Raees Cajee – might get away with it unscratched.
Cajee brothers’ ‘get out of jail free card’
In line with this, there’s one creditor whose name is withheld and is against the said compromise. That creditor even described it as the Cajee brothers’ “get out of jail free card.” That person went on to point out that who in their right minds would invest in a business like Africrypt as if it had some chances in succeeding, other than individuals that have a close connection to the Cajees.
Another anonymous creditor highlighted that the compromise offer has a high probability that 75 percent support requisite will be met. It was deemed as such since it is said that it’s the only scenario where these creditors will have a “realistic chance of getting something.”
Meanwhile, Darren Hanekom – the lawyer who represents a number of these creditors is also backing the unnamed investor’s compromise.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
