Crypto Analytics

Kenyan businessman accused of defrauding investors of more than $ 140 million – regulation

The businessman and owner of a Kenyan soccer club, Ricardo Badoer, has been accused of smuggling more than $ 140 million from investors through his cryptocurrency, Aidos Kuneen.

Threats to Investors

According to a local report, Kenyan businessman Ricardo Badoer is accused of defrauding investors with more than $ 140 million with his cryptocurrency Aidos Kuneen.

The allegations against Badoer – the owner of Wazito FC, a top-tier Kenyan football club – followed allegations that the Dubai-based businessman refused to release assets from investors. Badoer is also alleged to have used former General Service Unit police officer Paul Kaikai to threaten investors.

Next to the alleged threats is Badoer reported Blocked investors asking for their money on social media.

“Most of the investors are Japanese. He has withheld her assets and blocks anyone on Twitter or Aidos Market Telegram who asks for her money, “an anonymous source is quoted as saying.

With Badoer failing to repay investors in a timely manner, some in Kenya are now speculating that the businessman might do so to stop the collapse of his cryptocurrency project.

Investors want the Central Bank of Kenya to step in

Meanwhile, Kahawa Tungu – an online media company that claims to have confidential information about Badoer – said some frustrated investors now want the central bank to intervene. The outlet’s report, based on a testimony from an anonymous source, explains:

The frustrated investors are [now] in processing the attempt to contact the Central Bank of Kenya and Sumac Microfinance Bank, where he [Badoer] holds a stake to raise the alarm and possibly sanction it.

Aside from the failure of Aidos Kuneen’s investors, Badoer is also reportedly unable to meet other commitments such as paying the salaries of Wazito FC’s players and running the club.

What do you think of this story Let us know what you think in the comments below.

Terence Zimwara

Terence Zimwara is an award-winning journalist, writer, and writer based in Zimbabwe. He has written extensively on the economic problems of some African countries and how digital currencies can provide an escape route for Africans.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Source: Crypto News Austria

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