Kenyan Businessman Accused of Defrauding Investors of More Than $140 Million – Regulation Bitcoin News


Businessman and proprietor of a Kenyan soccer membership, Ricardo Badoer, has been accused of fleecing greater than $140 million from buyers by way of his Aidos Kuneen cryptocurrency.

Threats Against Investors

According to an area report, Kenyan businessman Ricardo Badoer is being accused of defrauding buyers by way of his Aidos Kuneen cryptocurrency of greater than $140 million.

The allegations in opposition to Badoer — the proprietor of Wazito FC, a soccer membership that performs in Kenya’s high division — adopted claims the Dubai-based businessman was refusing to launch belongings belonging to buyers. Badoer can also be accused of utilizing former General Service Unit police officer Paul Kaikai to threaten buyers.

In addition to the alleged threats, Badoer is reported to have blocked buyers inquiring about their cash by way of social media.

“Most of the investors are Japanese. He has withheld their assets and blocks anyone on Twitter or Aidos Market Telegram who asks about their money,” an nameless supply is quoted explaining.

As a results of Badoer’s failure to pay again buyers on time, some in Kenya now speculate that the businessman could possibly be doing this with a view to cease the collapse of his cryptocurrency venture.

Investors Want Central Bank of Kenya to Intervene

Meanwhile, Kahawa Tungu — an internet media outlet that claims to be in possession of confidential data regarding Badoer — mentioned some pissed off buyers now need the central financial institution to intervene. The outlet’s report, which depends on the testimony of an nameless supply, explains:

The pissed off buyers are [now] within the processing of making an attempt to contact the Central Bank of Kenya and Sumac Microfinance Bank the place he [Badoer] holds shareholding to boost alarm and probably get him sanctioned.

Besides failing the Aidos Kuneen buyers, Badoer is reportedly additionally unable to satisfy different obligations similar to paying the salaries of Wazito FC gamers and the membership’s operational bills.

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Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, writer and author. He has written extensively in regards to the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.

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