Investors in the controversial Libertas GH scheme are intensifying their demands for transparency. A probe by forensic investigators has revealed a pattern of evasive behaviour by company leadership. Concerns centre on cryptocurrency mining that failed to deliver returns.
Chad Thomas, head of IRS Forensic Investigations, represents several original investors. His firm was mandated to investigate the status of their investments after investors had heard various stories before CEO Ahmad Yasin Hossenbocus stopped communicating.
A mediated meeting with a prominent Crown Gardens businessman revealed significant discrepancies. Hossenbocus appeared exceptionally evasive during these discussions. The number of investors also remained unclear. Initial figures cited R100 million but later grew to R200 million.
“With every transaction … there seems to be a story about where the funds are. We’re talking about hundreds, if not thousands, of people that have been prejudiced as a result of this particular scheme. We’re talking about people that have invested life savings and pensions and we are not getting clear answers,” Thomas told Salaamedia.
Hossenbocus initially claimed a joint venture with a Serbian national for crypto mining in Bosnia. He stated the partner passed away suddenly, locking access to funds. The narrative then shifted to a sugar transaction involving Brazil and Botswana.
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For more on this, watch the full interview below:
Image via IDN Financials.
