Another Unnamed Investor Offers to Bail Out Collapsed South Africa Crypto Firm – Regulation Bitcoin News

Africrypt has received a $5 million bailout offer from an unnamed investor. Acceptance of the offer is required within seven days.

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According to a report, an unknown investor offered $5 million in bailout funds for Africrypt’s collapsed crypto-investment company. Investors have seven days to reject an offer made December 3rd 2021.

As previously reported by News, another unknown investor had initially offered $5 million in exchange for 51% of Africrypt’s shares. According to the terms of the offer, all criminal proceedings against Raees or Amir Cajee (missing directors of Africrypt) were to be dropped.

Unlike the first bailout offer, the latest one — according to a report by Moneyweb — does not compel creditors to agree to the condition that was proposed by the first investors. However, investors are forced to accept only a portion of the initial investment in this offer.

Afrcrypt investors will not be eligible for the increased value of crypto assets purchased by the company in September 2019. According to the report, the payout would be ten times lower than what investors are currently owed for digital assets.

Although the identities of the two new mystery investors are still unknown, Ruann Kruger, a legal representative of Africrypt’s liquidators, is quoted in the report confirming that the second investor is in fact a company. According to the lawyer, 35 of 181 investors have taken the offer.

Cajee Brothers are being accused of a variety of crimes

Report states that Africrypt investor believe Cajee Brothers are offering the latest deal. It cites one representative who stated:

The possibility that the Cajees are proxies for this offer and that they are paying us out is a strong suspicion [our]Your own money. This is an intelligent tactic from the investor, regardless of who it is. It’s a divide [and] rule tactic.

A letter that was sent by liquidators to Africrypt shareholders confirms the allegations that Cajee brothers were behind the initial offer. According to the liquidators, they suggested that the first mystery investor stopped communicating with them following their proposal to amend some terms of the initial offer.

Concerning the latest bailout offer, the liquidators said this one is “a good, firm and less complicated offer that is open for acceptance for the next seven days.” According to the report, investors that accept the offer will receive 65% for every rand (or 65% of the invested funds) for any proven claim within five days of the signing.

Are you more impressed by the new offer for Africrypt investors than the previous one? Let us know what you think by commenting below.

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