Africrypt brothers face fresh R300m claim from former Dubai investor
Raees and Ameer Cajee – the Johannesburg brothers behind the Africrypt ‘hack’ – are back in the headlines.
A Dubai-based businessman has issued summons for the recovery of R300 million in US dollars and bitcoin he says was stolen by Raees and Ameer Cajee, the Johannesburg brothers who made headlines in 2021 when their previous company Africrypt allegedly lost around R200 million due to what they claimed was a hack.
The brothers tapped their networks to attract around R200 million from investors, promising returns of up to 10% a month – similar to those offered by Mirror Trading International, South Africa’s largest crypto scam.
The Writer’s Room is a curated by Ciaran Ryan, who has written on South African affairs for Sunday Times, Mail & Guardian, Financial Mail, Finweek, Noseweek, The Daily Telegraph, Forbes, USA Today, Acts Online and Lewrockwell.com, among others. In between he manages a gold mining operation in Ghana, and previously worked in Congo. Most of his time is spent in the lovely city of Joburg.