A Kenyan businessman was accused of scamming people for around $140 million

News • 2021/12/21 • by
keziesuemo

Key Takeaways

  • Kenyan businessman Ricardo Badoer is accused of defrauding investors of more than $140 million.
    • The Indian government wants more input Before finalising the crypto bill.
    • Dogecoin developer admits that the US government, notably Senator Elizabeth Warren, made a disparaging remark about Tesla CEO Elon Musk

As per a local newspaper, Kenyan businessman Ricardo Badoer is accused of cheating investors out of more than $140 million using his Aidos Kuneen cryptocurrency.

The allegations against Badoer, the owner of Wazito FC, a top-flight Kenyan football club, stemmed from reports that the Dubai-based billionaire was delaying to disclose assets belonging to investors. Badoer is also accused of threatening investors with former General Service Unit police officer Paul Kaikai.

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In addition to the claimed threats, Badoer is said to have blocked investors on social media who inquired about their fund.

"Japanese are the majority of the investors." He has kept their assets and blocked everyone who inquires about their money on Twitter or Aidos Market Telegram," an unidentified insider is reported as saying.

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Related post: A Kenyan fintech company, Kwara garnered $4 million in a seed round](https://remitano.com/btc/ng/post/26642-a-kenyan-fintech-company-kwara-garnered-4-dollars-million-in-a-seed-round)

As a result of Badoer's refusal to repay investors on time, several Kenyans are now speculating that he is doing so to prevent his cryptocurrency scheme from collapsing.

Before finalising the crypto bill, the Indian government wants more input

The cryptocurrency bill, which was scheduled to be debated during the current legislative session, is being modified.

The cryptocurrency bill in India is unlikely to be introduced during the current legislative session. According to Bloomberg, the law is not on the agenda for the final week of parliament's winter session, but the government can still pass it by order after the session.

According to the news outlet, the administration is still working out the intricacies of cryptocurrency legislation, citing sources familiar with the situation. Last week, local media reported that the administration intends to make more amendments to the cryptocurrency bill. Nirmala Sitharaman, the country's finance minister, recently stated that the bill needs to be modified.

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The following was included in the publication:

Prime Minister Narendra Modi wants more consultations before finalizing the rules governing digital currencies, but there isn't enough time because the current session expires on December 23.

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Related post: According to Indian media, there are conflicting reports on the regulation of cryptocurrency in the country

According to reports, the Indian government intends to regulate crypto assets while prohibiting the use of cryptocurrency for payment. Investors will also be given a deadline to register their crypto holdings.

Dogecoin Developer joins Elon Musk in criticising the US government

Markus, a Dogecoin developer, tweeted earlier today about Elon Musk's current spat with the US government. The developer admits that the US government, notably Senator Elizabeth Warren, made a disparaging remark about Tesla CEO Elon Musk.

The Dogecoin creator chastises the government after Elon Musk said he would pay $11 billion in taxes. He says that the protests were unnecessary because Elon would pay the highest tax rate in American history.

Tesla's CEO came to Twitter in November 2021 to ask his followers if he should sell his stock. He also stated that he would pay attention to the election results. Regardless of the polling results, Elon still had a $15 billion tax burden to pay.

Musk was able to get a stock option award as a settlement agreement in 2012. For 22.8 million shares, each Tesla share was roughly $6.24.

By November 2021, the stock had risen to almost $1,200, netting Elon $28 billion in profit. In addition, the SpaceX CEO seeks loans using his company's stock as security.

Some American politicians perceive such a move as a means of avoiding paying taxes. Senator Elizabeth Warren is one of the leaders criticising Elon Musk's proposed tax settlement. According to the senator, Musk is a freeloader who does not pay his fair share of taxes.

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Shibetoshi's tweet expands on the $2.5 trillion expenditure proposal. According to him, printing $2.5 trillion could cause the country's economy to suffer.

What are your thoughts about Markus’ comment?

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benlyn74
5 years ago
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