South African cryptocurrency entrepreneurs Raees and Ameer Cajee, known as the Bitcoin Brothers, are facing a criminal investigation in Switzerland on money laundering charges. Their arrest came after one brother attempted to access safety deposit boxes containing hardware wallets, believed to hold crypto assets linked to their collapsed Africrypt scheme. The brothers fled South Africa in 2021 when Africrypt, a platform promising outsized returns through AI-powered trading, allegedly went bankrupt after a claimed hack.
South Africa’s infamous Bitcoin Brothers — Raees and Ameer Cajee — are under criminal investigation in Switzerland after one was arrested while trying to access safety deposit boxes they rented in Zurich.
The brothers promised investors that Raees had developed revolutionary artificial intelligence cryptocurrency trading software that could generate consistent monthly returns. It has now emerged that this was around the same time one of the brothers was arrested in Zurich — just months after they fled South Africa.Swiss authorities have not publicised the arrest and only a handful of Swiss German-language news publications carried the story.According to the paper, the Public Prosecutor’s Office learned that the Cajees had rented safety deposit boxes and stored their hardware wallets in them. Hardware wallets are used to securely store crypto assets like Bitcoin.
He fought his bail conditions all the way to the Federal Supreme Court, which dismissed his complaint. “We can confirm that the Public Prosecutor’s Office of the Canton of Zurich is conducting a criminal investigation against the two brothers you mentioned on suspicion of money laundering,” Wenzinger told MyBroadband.
CRYPTOCURRENCY MONEY LAUNDERING INVESTIGATION SOUTH AFRICA SWITZERLAND
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