Where Is the Continent Hiding Scammers?Annabella Cornelly
Scammers are becoming more inventing and it seems there is nothing that can stop them from their illegal activities. The mass media has recently reported that the operator of a crypto scam has escaped from South Africa and is now hiding in Mozambique.
Willie Breedt is the name of the cryptocriminal who managed to steal huge sums of money from local investors. He was doing it utilizing the scheme known as VaultAge Solutions. Now the authorities say that the scammer has left South Africa and now stays in Mozambique.
The journalists announced it a couple of days ago. They took an interview and asked the officials how the police are going to solve the issue. The authorities noted that the scammer is not yet back to South Africa and that he has been staying in Mozambique for over five months.
Breedt successfully attracted more than two thousand investors. However, the mentioned scheme had no registration and the country’s financial organizations and services were unaware of the details.
The local police officers have initiated an investigation for fraud. VaultAge Solutions has been functioning for the past two years. The project guarantees weekly returns. Customers are to make deposits via cryptocurrency mining and trading. The starting amount for a deposit is fifty USD.
A month ago, the mass media outlets noted that the country’s crime investigators had initiated an investigation process and looked deeper into the activities that the company practiced. Their mission was to verify that the firm is not related to fraud and crime.
The authorities have received multiple complaints from investors. Most of them say that they succeeded in receiving only one percent of expected returns. In some instances, people received no returns.
Among the fraudster’s victims, there are doctors and pensioners who trusted Breedt and invested their funds. Many of those who worked with the scammer have plenty of affidavits and are now ready to assist the authorities and help them find the cryptocriminal who had stolen their money.
The reports tell about a great number of investors who have made massive investments. Some individuals have trusted hundreds of thousands of dollars. One of the victims is located in Pretoria, whose investment was very serious and he expected huge returns.
Also, many retired people invested their savings and became the fraudster’s victims, too. People who live on their pension invest a few thousand dollars and, once they find out their money is stolen, experience shock. They did receive returns on the increase of their investment, but that lasted for about five months only.
Since April they haven’t received any returns at all. The majority of pensioners are now suffering from money difficulties.
It is known that some media sources managed to get in touch with Breedt and asked him to explain the situation. The man said he had many other tasks to do and promised that the investors will receive their money by June 1. When asked where he was located at the moment, Breedt didn’t want to comment.
The number of cases when Breedt disappointed his investors is steadily growing. The investigation process is going on and the officials cannot reveal details at present. The crypto market is fighting scammers and fraudsters. They ask the government for help. Unfortunately, cybercriminals keep on finding new ways to steal people’s funds and escape punishment.
Scammers are becoming more inventing and it seems there is nothing that can stop them from their illegal activities.
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