South Africa

Crypto billionaire goes toe to toe with jilted investors

Billionaire businessman Priven Reddy is staring down a court challenge by jilted investors to have his fledging cryptocurrency firm Kryptoro declared insolvent – all over a R1.2m debt.

High-flying Priven Reddy is facing a court challenge by an investor who claims Reddy had convinced him that Reddy's company 'will do a great job with my idea'. Now the investor wants his R200,000 back.
High-flying Priven Reddy is facing a court challenge by an investor who claims Reddy had convinced him that Reddy's company 'will do a great job with my idea'. Now the investor wants his R200,000 back. (Facebook)

Billionaire businessman Priven Reddy is staring down a court challenge by jilted investors to have his fledging cryptocurrency firm Kryptoro declared insolvent – all over a R1.2m debt.

The relationship went downhill when the company couldn’t pay a family trust its quarterly profit dividends.

 

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