Investors to File Lawsuit Against CEO of Alleged $17M Cryptocurrency Scam
Investors in an alleged $17 million crypto scam are filing a lawsuit with the Port Elizabeth High Court against the CEO of VaultAge Solutions.
Investors in the South African cryptocurrency firm VaultAge Solutions are planning to file a case against company CEO Willie Breedt for allegedly scamming 2,000 investors out of approximately $17 million.
Breedt flees abroad
On June 1, Cointelegraph reported that Breedt was believed to have fled South Africa for Mozambique in December 2019. The South African Department of Home Affairs indicated that he hadn’t returned since then.
After fleeing to Mozambique, Breedt had reportedly cut all communications with his investors except for one email that tried reassuring them that their funds were safe and would be paid back to them. Local news outlet News24 claims that Breedt indicated that repayments were to start by May 30.
Readmore: https://cointelegraph.com/news/investors-to-file-lawsuit-against-ceo-of-alleged-17m-cryptocurrency-scam