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Kenyan Businessman Accused of Defrauding Investors of More Than $140 Million

Ricardo Badoer is a businessman and the owner of a Kenyan soccer club. He was accused of taking more than $140million from investors through his Aidos Kuneen cryptocurrency.

Threats Against Investors

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

Badoer, the owner of Wazito FC (a football club in Kenya’s top league), was accused of making false allegations. He was also accused of refusing to release assets owned by investors. Badoer is also accused in threatening investors with Paul Kaikai, a former General Service Unit officer.

Badoer, in addition to the threats, is said to have blocked investors from asking about their money via social networks.

“Most of these investors are Japanese. An anonymous source explains that he has withheld their assets, and blocked anyone who asked about their money on Twitter or Aidos Market Telegram.

Some Kenyans speculate that Badoer could be trying to stop the collapse and payment of his investors because he failed to pay them back on time.

Investors want the Kenyan Central Bank to Intervene

Kahawa Tungu, an online media outlet claiming to have confidential information about Badoer, said that some investors are now asking the central bank for intervention. According to the outlet’s report, which is based on testimony from an anonymous source, it explains:

The frustrated investors are [now] in the processing of trying to contact the Central Bank of Kenya and Sumac Microfinance Bank where he [Badoer] holds shareholding to raise alarm and possibly get him sanctioned.

Badoer, in addition to failing Aidos Kuneen’s investors, is also said to be unable meet other obligations like the Wazito FC player salaries and club operations expenses.