It is alleged that the Cajee brothers transferred the invested pooled funds from a South African account before fleeing to the UK.Africrypt described itself as"an investment firm exclusively focused on cryptocurrency and blockchain technology". It was founded in 2019.
“Unfortunately, this has forced Africrypt to halt operations… We urge all clients to please be patient as we attempt to resolve the situation. It is understandable that clients may proceed the legal route, but we ask clients to please acknowledge that this will only delay the recovery process.” The Gauteng South High Court has granted a provisional liquidation order against the two brothers, in favour of about 20 investors. The Cajee brothers have until July 19, 2021, to argue against the liquidation.