In a rare interview following the disappearance of the brothers Cajee of Africrypt, older sibling Raees (21) told the Wall Street Journal that the crypto firm’s portfolio was never as remotely as big as the $3.6bn (R51bn) investors claimed to have vanished.
He told the WSJ’s Anna Hirtenstein that less than $5m (R71.3m) of the $200m he and his 18-year-old brother Ameer were managing at the height of the market is missing after Africrypt’s systems were hacked and tokens were stolen.
They’re hiding because they’ve received death threats but will attend a liquidation hearing in July brought by an investor group seeking to recoup R140m (about $10m), he said.
“We dealt with a lot of high-level South Africans, a lot of politicians, a lot of high-level businessmen within South Africa, as well as celebrities,” Raees told the WSJ. “Some particularly very, very dangerous people—that we had not actually known were clients—have started to come out of the cracks.”
Meanwhile, Bloomberg reports the mandate of the lawyers representing the Cajee brothers has been terminated. The report didn’t say by whom.
Here’s a roundup of the world’s most interesting headlines:
SA Business
- SA airlines cut flights, drop penalty fees as Level 4 wreaks havoc on travel plans – Fin24
- Putting politics above the nation during the pandemic is a recipe for disaster – Daily Maverick
- Strawberry farm celebrates SA’s first commercial dagga export – Sowetan Live
Markets News
- Bitcoin Leads Crypto Higher in Defiance of Regulatory Crackdown – Bloomberg
- Asian stocks down as fears over Delta Covid-19 variant spread – Investing.com
- Nasdaq 100 Rallies Toward Record in Risk-Off Day – Bloomberg
Opinion
- Part 2: How much the Gupta enterprise earned – Daily Maverick
- Power shift and what it means for South Africa’s automotive industry – Engineering News
- The trillion rand property collapse – Magnus Heystek – Biznews
Download the news aggregator app SAccess, available on Google Play and the App Store, to stay on top of financial and market news from around the world.
