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The world of Bollywood is dynamic, and for every moment you spend not keeping an eye on what’s happening there, you miss out on an interesting scoop. This is why we have come up with this new section where in we would tell you the news from Bollywood, hot and quick like your evening snacks.<br />
<br />
<a href="https://www.instagram.com/iamsrk/">Source</a><br />

Bollywood Insider: From Shah Rukh’s high-action stunt to
Shahid’s long hair

<keyword id="19895142" type="General" weightage="100" keywordseo="Shah-Rukh-Khan" source="keywords">Shah Rukh Khan</keyword>, widely known as the "King of <keyword id="19897820" type="General" weightage="20" keywordseo="Bollywood" source="keywords">Bollywood</keyword>," has officially joined the ranks of India’s wealthiest, debuting on the 2024 <keyword id="21075617" type="General" weightage="20" keywordseo="Hurun-India-Rich-List" source="keywords">Hurun India Rich List</keyword> with an impressive wealth of Rs 7,300 crores. But how did a Delhi boy with dreams of making it big in Mumbai become one of India’s richest individuals? Let’s dive into the ventures that propelled King Khan into the billionaires' club.<br /><h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;"><keyword id="20033371" type="General" weightage="20" keywordseo="Red-Chillies-Entertainment" source="keywords" meta.keywordsubtype="org" meta.entityname="Red Chillies Entertainment" meta.hostid="261" meta.entityid="Red Chillies Entertainment">Red Chillies Entertainment</keyword></h3>Shah Rukh Khan’s production company, Red Chillies Entertainment, has been a significant contributor to his wealth. Founded in 2002, Red Chillies has become a key player in Bollywood, producing blockbuster films and investing in high-quality visual effects. From chart-topping films like <em>Chennai Express</em> and <em>Raees</em> to the massive success of <em>Pathaan</em> in 2023, Red Chillies has consistently delivered box office hits.<br /><div type="Article" hostid="261" msid="112412196" title="&amp;#39;Deadpool &amp;amp; Wolverine&amp;#39; screenwriters reveal secrets and spoilers, including the movie&amp;#39;s original villain and who wrote that Hugh Jackman divorce joke" mstype="2" mssubtype="0"></div>With an estimated revenue consistently in the hundreds of crores and a profit of Rs 85 crores last year, the company has not only cemented SRK’s position as a top actor but also as a successful producer. Furthermore, the company’s VFX division, Red Chillies VFX, has set new benchmarks in the <keyword id="20161413" type="General" weightage="20" keywordseo="Indian-film-industry" source="keywords">Indian film industry</keyword>, working on major projects that have earned critical and commercial acclaim, such as <em>Ra.One, Fan, </em>and <em>Laal Singh Chaddha</em>. These ventures have significantly bolstered SRK’s wealth, making Red Chillies Entertainment a cornerstone of his business empire.<br /><h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;"><keyword id="19899758" type="General" weightage="20" keywordseo="Kolkata-Knight-Riders" source="keywords" meta.keywordsubtype="org" meta.entityname="Kolkata Knight Riders" meta.hostid="261" meta.entityid="Kolkata Knight Riders">Kolkata Knight Riders</keyword></h3>Shah Rukh Khan’s entry into the sports business with the IPL franchise Kolkata Knight Riders (KKR) has been a masterstroke. Co-owned by SRK, Juhi Chawla, and Jay Mehta, KKR has become one of the most successful and profitable franchises not just in the Indian Premier League, but also in the sporting world. The team’s consistent performance on the field has been matched by its financial success off it, with KKR’s brand value rising steadily over the years.<br /><br />As per Forbes, the cricket team was valued at over $1 billion in 2022. This surge in valuation played a crucial role in boosting SRK’s wealth, contributing significantly to his fortune. The success of KKR, coupled with its passionate fan base and strong marketing, has made it a jewel in SRK’s business portfolio, further solidifying his status as a businessman.<br /><h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Brand SRK: The most followed Indian on social media</h3>More than just a business mogul, Shah Rukh Khan is also a brand unto himself. With 44.1 million followers on Twitter, SRK is the most followed individual from the 2024 Hurun India Rich List on Indian social media. His massive <keyword id="20462299" type="General" weightage="20" keywordseo="social-media-presence" source="keywords">social media presence</keyword> has translated into lucrative endorsement deals and collaborations with global brands.<br /><div type="Article" hostid="261" msid="112249289" title="One of Singapore&amp;#39;s flashiest CEOs was planning to throw a Tomorrowland-style party for the books. Then the mirage started to fall apart." mstype="2" mssubtype="0"></div>Consistently being one of the most visible endorsers, SRK earns substantially from <keyword id="20004407" type="General" weightage="20" keywordseo="brand-endorsements" source="keywords">brand endorsements</keyword>, with an estimated fee of Rs 4-5 crores per endorsement. His portfolio includes major brands like Hyundai, Dubai Tourism, and BYJU'S, further adding to his immense wealth. His ability to leverage his celebrity status into profitable business ventures has undoubtedly been a key factor in his <keyword id="21015152" type="General" weightage="20" keywordseo="wealth-accumulation" source="keywords">wealth accumulation</keyword>.<br /><h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Real estate</h3>Real estate has always been a key component of wealth building, and Shah Rukh Khan is no exception. Shah Rukh Khan’s <keyword id="22962036" type="General" weightage="20" keywordseo="real-estate-ventures" source="keywords">real estate ventures</keyword> extend far beyond his iconic Mumbai residence, Mannat. One of his lesser-known yet highly lucrative ventures is in Dubai, where he and his wife Gauri Khan launched a luxurious beachfront residential project, the "SRK Boulevard," located in the posh Dana Islands.<br /><br />This mega project, worth over Rs 18,000 crore, features 10 residential buildings with high-end facilities, including marine sports and leisure amenities. Designed by Los Angeles architect Tony Ashai, with interiors by Gauri Khan, this project highlights SRK’s foray into international real estate<br /><h3>And of course, films</h3>Shah Rukh Khan’s earnings from films and endorsements are a significant part of his wealth. Known as one of the highest-paid actors in India, SRK reportedly charges over Rs 100 crores per film. This is certainly no small amount, but it is unlikely that filmmakers will find fault with it, considering how his films regularly break box office records. As per IMdB, both 2023 films <em>Jawan </em>and <em>Pathaan</em> grossed over Rs 1000 crores worldwide. <br /><br />All in all, King Khan’s entry into the Hurun India Rich List is significant not just for him, but for the entire entertainment industry. SRK’s success reflects the growing financial clout of Indian film stars and the increasing importance of entertainment in wealth creation. In 2024 alone, Hurun India Rich Listers from the entertainment industry added Rs 40,500 crores to their wealth, with SRK leading the charge. This trend highlights the expanding influence of Bollywood and the entertainment sector in India’s broader economic landscape.<br />

Baadshah of Bollywood Shah Rukh Khan debuts on India's richest list with Rs 7,300 cr — here's how the King made his wealth

Just when the excitement was at its peak over <keyword id="1671" type="General" weightage="20" keywordseo="shah-rukh-khan" source="Orion">Shah Rukh Khan</keyword>'s son <keyword id="6499181" type="General" weightage="20" keywordseo="aryan-khan" source="Orion">Aryan Khan</keyword>'s <keyword id="1267938" type="General" weightage="20" keywordseo="clothing-brand" source="Orion">clothing brand</keyword> <keyword id="17287776" type="General" weightage="20" keywordseo="dyavol-x" source="Orion">Dyavol X</keyword>, the prices of the limited edition confused and startled many.<br /><br />The website crashed as soon as the collection dropped with a jacket autographed by Shah Rukh, priced at a whopping Rs 2 lakh, was later found to be sold out. Not just the jacket, but other ensembles too had outlandish pricing such as T-shirts being priced at an shocking Rs 25,000-Rs 47,000.<br /><br />This did not stop social media users from having a field day at what they do best - roasting. <br /><br />One wrote: "Kaun Ho Bhai Raees Zaade???#DyavolX"<br /><br />Another showed his shopping cart, which showed a bill of over Rs 6 lakhs as it contained clothing items D'YAVOL Duck for Rs 48,800, Alpha for RS 45,500, Signature X for 4,01,110 and another Signature X for Rs 2,00,555. The total was Rs. 6,95,965. <br /><br />The user captioned it: "Bhai #DyavolX ke price dekh ke mere ko chakkar aa rahe hain."<br /><br />Another said: "Agar yeh common man ke liye nahi, toh trend kaun kara hai? Another #Pathaanonprime? Look at the bloody prices. #DyavolX<br /><br />One wrote a message for Shah Rukh Khan, saying that he "miserably failed" to address his son about "Pricing strategies". <br /><br />The user wrote: Dear @iamsrk, My favourite Actor, philosopher, socialist. You miserably failed to address your expensive son about Pricing strategies before launching a product in a market. Agreed that's a luxury brand, possibly you don't aim your fans to sell their kidneys. Lol! #DyavolX"<br /><br />One aspired to buy a hoodie from the label and quipped: "Thought of buying a hoodie from #DyavolX but then I got to know that they don't deliver to my pin code so I dropped the plan. PS: it just cost around 50k inr for a hoodie. Okay bye.<br /><br />Another said: "HRX Being human is good enough. Buying from #DyavolX is not even showing off ,it's stupidity. Konsi tshirt 48k me ati ha manufactured in india."<br /><br /><b>SEE ALSO:<br /></b><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/hindus-muslims-sikhs-feature-on-royal-mail-stamp-marking-kings-coronation/articleshow/99910138.cms"><strong>Hindus, Muslims, Sikhs feature on Royal Mail stamp marking King's coronation</strong></a><b><u><strong><br /></strong></u></b><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/real-estate-bfsi-hiring-in-india-continued-to-grow-in-april-report/articleshow/99910200.cms"><strong>Real Estate, BFSI hiring in India continued to grow in April: Report</strong></a><b><br /></b>

Outlandish prices of Shah Rukh Khan's son Aryan Khan's clothing brand Dyavol X leaves social media in a frenzy

<ul class="summary-list"><li>A TikToker named Mahek Bukhari and her mother, Ansreen, have been sentenced to life in prison.</li><li>They were convicted over the double murder of Ansreen's former lover Saqib Hussain and his friend.</li></ul><p>A 23-year-old TikToker and her mother have been <a href="https://www.cps.gov.uk/east-midlands/news/a46-car-crash-murderers-sentenced" target="_blank" rel="noopener noreferrer">sentenced to life in prison</a> for double murder after they were convicted of orchestrating the <a href="https://www.insider.com/tiktoker-mahek-bukhari-accused-of-murder-car-crash-2022-11" target="_blank" rel="noopener noreferrer">killings of two men during a high-speed car chase</a> in an attempt to hide an affair.</p><p>Saqib Hussain and his friend Hashim Ijazuddin, both 21, were pursued by two people, identified as Rekan Karwan and Raees Jamal, in a high-speed car chase on February 11, 2022, that resulted in their deaths.</p><p>The prosecution argued that the two men had been "lured" to meet Mahek Bukhari and her 46-year-old mother, Ansreen Bukhari, in a grocery store's parking lot in Leicester, England, after Hussain had threatened to expose his affair with Ansreen Bukhari when she ended their relationship, the <a href="https://www.bbc.co.uk/news/live/uk-66412432/page/3">BBC reported</a>. They were said to be meeting on the pretense that Hussain would be given back the £3,000, or about $3,790 at today's exchange rate, that he spent during the affair.</p><p>Right before he died, Hussain called the police to report that he was being "rammed off" the road by people wearing balaclavas in two pursuing cars, the BBC reported. During the call, which was replayed at the trial, Hussain said, "They're trying to kill me — I'm going to die," adding: "Please, sir, I just need help."</p><p>"They're hitting the back of the car, really fast," he also said, again adding: "Please I'm begging you. I'm going to die." He then screamed and the call abruptly ended, per the outlet.</p><p>Hussain and Ijazuddin died after the car was forced off the road, according to the prosecution.</p><p>On September 1, Mahek Bukhari was sentenced to a minimum of 31 years and eight months in prison and Ansreen Bukhari was sentenced to a minimum of 26 years and nine months. The two drivers were also found guilty of murder — Karwan was sentenced to a minimum of 26 years and 10 months, while Jamal, who is already serving a rape sentence, was sentenced to a minimum of 36 years and 45 days. Three others were also found to be guilty of manslaughter.</p><p>Mahek Bukhari's lawyer Christopher Millington says she'll be requesting permission from the judge to appeal the conviction, <a href="https://www.leicestermercury.co.uk/news/leicester-news/tiktok-killer-mahek-bukhari-set-8721946" target="_blank" rel="noopener">according to the local outlet Leicestershire Live</a>.</p><h2>The judge said 'TikTok and Instagram lie at the heart of the case'</h2><p>Judge Timothy Spencer said, "TikTok and Instagram lie at the heart of this case — you, Mahek Bukhari, being an influencer on both platforms.</p><p>"That's why you dropped out of university — had you not done so you would have been a graduate with your whole life in front of you."</p><p>He also said he regarded Mahek Bukhari as "immature below your years" and said, "Your fame through your career as an influencer has made you utterly self-obsessed with a wholly unjust sense of self-entitledness."</p><p>Mahek Bukhari gained popularity through posting videos on her TikTok account, <a href="https://www.tiktok.com/@maybvlogs/video/7004930674591288582" target="_blank" rel="noopener">@maybvlogs</a>. She has more than 136,000 followers and 3.4 million likes on her videos. Her mother occasionally appeared in her content.</p><p>"So blessed to have her in my life, my mother, best friend and sister all in one," Mahek Bukhari wrote in the description of one <a href="https://www.tiktok.com/@maybvlogs/video/7004930674591288582?lang=en" target="_blank" rel="noopener">video</a>, which showed the two women dancing along to a song. In the video caption, she wrote that she and her mother had an "elite relationship."</p> <p>Mahek Bukhari has not posted a video on the account since February 2022.</p>

An influencer has been sentenced to life in prison for a double murder involving her mom's former lover

<ul class="summary-list"><li>The lawyers for the two brothers involved in what could be the world's largest <keyword id="11502633" type="UNKNOWN" weightage="60" keywordseo="crypto-heist">crypto heist</keyword> have been removed from the case. </li><li>The South-Africa based lawyers told Bloomberg their mandate to assist the brothers has been terminated.</li><li>The <keyword id="11538187" type="UNKNOWN" weightage="60" keywordseo="cajee-brothers">Cajee brothers</keyword> and the estimated $3.6 billion in <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> are still nowhere to be found.<a href="https://www.businessinsider.com/?hprecirc-bullet"></a></li></ul><p>The lawyers for the <a href="https://markets.businessinsider.com/currencies/news/south-african-brothers-billions-bitcoin-disapper-crypto-heist-2021-6-1030548585">two brothers who have been accused of vanishing with an estimated $3.6 billion</a> in bitcoin told <a href="https://www.bloomberg.com/news/articles/2021-06-28/missing-brothers-lawyers-terminated-from-s-africa-bitcoin-case">Bloomberg</a> on Monday their mandate to assist the brothers has been terminated. </p><p>"Our mandate to assist the Cajee Brothers has been terminated," John Oosthuizen, a South Africa-based attorney, said in an email to Bloomberg, when asked for comment on the brother's whereabouts. "I look forward to reading your reporting on the Africrypt saga further."</p><p>The statement from Oosthuizen came just two days after he publicly defended Ameer Cajee and his younger brother, Raees Cajee. The brothers have not been seen since they told clients that their cryptocurrency investment app Africypt had been hacked in April.  <br /><br />The brothers, speaking through Oosthuizen, denied any involvement in the crypto heist.</p><p>"There is no foundation to the accusation and there's no merit to those accusations," Oosthuizen told <a href="https://www.bbc.com/news/technology-57582805">the BBC</a>. "They maintain that it was a hack, and they were fleeced of these assets."</p><p>When 20 year-told Ameer Cajee learned of the hack, he told clients not to report the incident to authorities as this would impede attempts to recover the funds. Neither Ameer nor Raees contacted the police after the alleged hack.</p><p>Oosthuizen defended the brothers' decision to not talk to the police, saying that at just 20 and 18 years old, they "had very little life experience." </p><p>But several suspicious customers, however, did report the hack. They contacted Hanekom Attorneys, according to <a href="https://www.iol.co.za/business-report/companies/fnb-denies-banking-relationship-with-fraud-accused-crypto-company-cf750449-20fa-4622-9bbe-3ca254973b58" target="_blank" rel="noopener">Independent Online</a>, who then tried to track the brothers down. When unsuccessful, Hawks, a police unit in South Africa that targets crime and corruption, was looped in.</p><p>"We were immediately suspicious as the announcement implored investors not to take legal action," Hanekom Attorneys told <a href="https://www.bloomberg.com/news/articles/2021-06-23/s-african-brothers-vanish-and-so-does-3-6-billion-in-bitcoin?srnd=markets-vp" target="_blank" rel="noopener">Bloomberg</a> over email. "Africrypt employees lost access to the back-end platforms seven days before the alleged hack." </p><p>The news of the lawyers being terminated from the case also comes as local news site <a href="https://www.moneyweb.co.za/moneyweb-crypto/lightning-strikes-twice-for-africrypts-cajee-brothers/">MoneyWeb</a> reported that this incident wasn't the first time a company the Cajee brothers ran had been hacked. </p><p>Before founding Africrypt in July 2019, the Cajee brothers ran a different investment platform. In a letter to clients on in May 2019, the brothers said their platform was hacked and emptied of all bitcoin. They blamed a breach of their biggest trading partner, Binance, for the hack. <br /><br /><br /></p><p><br /><br /></p><p><br /><br /><br /></p>

Lawyers for the South African brothers who vanished with $3.6 billion of bitcoin in possibly the largest-ever crypto heist have been terminated from the case

<ul class="summary-list"><li>Ameer Cajee and his younger brother, Raees Cajee, founded Africrypt in 2019.</li><li>Not long after, the siblings, along with <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> worth $4 billion at the peak in April, are nowhere to be found.</li><li>Authorities and lawyers are still trying to get to the bottom of the disappearance. </li></ul><p>Two South African brothers recently vanished with $3.6 billion worth of bitcoin in what could potentially be the biggest cryptocurrency heist in history.</p><p>Local media, including <a href="https://www.iol.co.za/business-report/companies/fnb-denies-banking-relationship-with-fraud-accused-crypto-company-cf750449-20fa-4622-9bbe-3ca254973b58">Independent Online</a> and <a href="https://www.itweb.co.za/content/j5alr7QaVRg7pYQk">ITWeb</a>, were the first to report on the case.</p><p>In 2019, Ameer Cajee and his younger brother, Raees Cajee, founded crypto investment app Africrypt.</p><p>Not long after, the siblings, along with 69,000 bitcoins worth roughly $4 billion at their April peak, are nowhere to be found.</p><p>It all began in April when Ameer, who is the company's chief operating officer, informed their clients that Africrypt was hacked, compromising their accounts, wallets, and nodes.</p><p>In an unusual step, <a href="https://www.itweb.co.za/content/j5alr7QaVRg7pYQk">20-year-old</a> Ameer told them not to report the incident to authorities as this would impede attempts to recover the funds. </p><p>A few suspicious customers, however, did report the hack. They contacted Hanekom Attorneys, according to <a href="https://www.iol.co.za/business-report/companies/fnb-denies-banking-relationship-with-fraud-accused-crypto-company-cf750449-20fa-4622-9bbe-3ca254973b58">Independent Online</a>, who then tried to track the brothers down. When unsuccessful, Hawks, a police unit in South Africa that targets crime and corruption, was looped in.</p><p>"We were immediately suspicious as the announcement implored investors not to take legal action," Hanekom Attorneys told <a href="https://www.bloomberg.com/news/articles/2021-06-23/s-african-brothers-vanish-and-so-does-3-6-billion-in-bitcoin?srnd=markets-vp">Bloomberg</a> over email. "Africrypt employees lost access to the back-end platforms seven days before the alleged hack."</p><p>The lawyers also told cryptocurrency exchanges around the world to sound an alarm if they noticed any suspicious conversion of coins. </p><p>FNB, which banked Africrypt, has also been questioned about the episode, according to documents seen by <a href="https://www.iol.co.za/business-report/companies/fnb-denies-banking-relationship-with-fraud-accused-crypto-company-cf750449-20fa-4622-9bbe-3ca254973b58">Independent Online</a>. The local bank denied any involvement.</p><p>"FNB once again confirms that it does not have a banking relationship with Africrypt. Due to client confidentiality, FNB cannot provide any information on specific bank accounts," Nadiah Maharaj, FNB risk spokesperson, told <a href="https://www.iol.co.za/business-report/companies/fnb-denies-banking-relationship-with-fraud-accused-crypto-company-cf750449-20fa-4622-9bbe-3ca254973b58">Independent Online</a>.</p><p>As the brothers remain missing, some efforts to get to the bottom of things have hit roadblocks.</p><p>For instance, South Africa's Finance Sector Conduct Authority, the country's financial institutions regulator, said cryptocurrency-related matters do not fall under its jurisdiction, <a href="https://www.iol.co.za/business-report/companies/fnb-denies-banking-relationship-with-fraud-accused-crypto-company-cf750449-20fa-4622-9bbe-3ca254973b58">Independent Online</a> reported.</p><p>Crimes involving crypto are a growing cause of concern for regulators and companies.</p><p>Most recently, the Bank for International Settlement <a href="https://markets.businessinsider.com/currencies/news/bitcoin-btc-crime-speculative-asset-climate-energy-use-bis-2021-6-1030546176">criticized the digital asset</a> for its role in illegal activities. </p><p>"By now, it is clear that <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> are speculative assets rather than money, and in many cases are used to facilitate money laundering, <a href="https://markets.businessinsider.com/currencies/news/ransomware-cryber-attack-bitcoin-btc-cryptocurrency-regulation-sec-2021-5-1030445784?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">ransomware attacks</a>, and other financial crimes" BIS said.</p><p>US Treasury Secretary Janet Yellen, meanwhile, has also been a vocal <a href="https://markets.businessinsider.com/currencies/news/janet-yellen-bitcoin-is-an-extremely-inefficient-way-to-transact-2021-2-1030109052?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">critic of cryptocurrencies</a>.</p><p>"To the extent it is used, I fear it's often for illicit finance," she <a href="https://www.nytdealbookconference.com/dealbookdc2020/827493">said</a> in February. "I do worry about potential losses that investors can suffer."</p>

Two South African brothers have vanished with $3.6 billion of bitcoin in what could be the biggest crypto heist in history

<ul class="summary-list"><li><keyword id="6355117" type="LOCATION" weightage="60" keywordseo="south-africa">South Africa</keyword>'s regulator said it's powerless to act on a suspected $3.6 billion <keyword id="6409096" type="UNKNOWN" weightage="60" keywordseo="Bitcoin-scam">bitcoin scam</keyword>.</li><li>Two brothers who founded <keyword id="11513667" type="UNKNOWN" weightage="60" keywordseo="africrypt">Africrypt</keyword> appear to have gone missing, along with bitcoin worth billions.</li><li>South Africa's FSCA said the company appears to be a Ponzi scheme designed to defraud investors.</li></ul><p>South Africa's financial services regulator has said it can't take any action over a <a href="https://markets.businessinsider.com/currencies/news/south-african-brothers-billions-bitcoin-disapper-crypto-heist-2021-6-1030548585">suspected scam</a> that lawyers say has caused as much as $3.6 billion worth of <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> to go missing.</p><p>The country's Financial Sector Conduct Authority <a href="https://www.fsca.co.za/News%20Documents/PRESS%20RELEASE_AFRICRYPT%20(PTY)%20LTD_24%20June%202021.pdf">said</a> Thursday that Africrypt, the company linked to the lost holdings, looks like a Ponzi scheme set up to defraud investors.</p><p>Yet the FSCA said that as cryptocurrencies are not regulated financial products or services in South Africa, it is powerless to do anything in this case.</p><p>"At this stage we have only found evidence of crypto asset transactions," it said in a statement. "Currently crypto assets are not regulated in terms of any financial sector law in South Africa and consequently the FSCA is not in a position to take any regulatory action."</p><p>Africrypt was created by brothers Ameer and Raees Cajee in 2019, and based in Johannesburg in South Africa.</p><p>According to a police statement seen by <a href="https://www.bloomberg.com/news/articles/2021-06-23/s-african-brothers-vanish-and-so-does-3-6-billion-in-bitcoin">Bloomberg</a>, the company promised high returns of up to five times principal investments.</p><p>Yet Hanekom Attorneys, the lawyers for the affected investors, now say that the brothers - and as much as $3.6 billion of bitcoin - have vanished, in what they describe as a "heist". Insider was unable to contact the crypto company, whose website is down.    </p><p>The FSCA said: "This entity was offering exceptionally high and unrealistic returns akin to those offered by unlawful investment schemes commonly known as Ponzi's."</p><p>"The public is urged to understand that unrealistically high returns suggests that the investment scheme is likely to be fraudulent," it added.</p><p>Africrypt's apparent closure, and the inability of regulators to deal with it, raises fresh concerns about the safety of cryptocurrency investments around the world.</p><p>Crypto <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> are currently largely unregulated. Watchdogs have routinely warned that investors should be prepared to <a href="https://www.businessinsider.com/bitcoin-price-investors-lose-all-their-money-warning-uk-regulator-2021-1">lose all their money</a>.</p>

South African regulator says it's powerless over suspected $3.6 billion bitcoin scam, as crypto is out of its reach

<p>In Iran, there are many imitations of popular restaurant chains, the&#xa0;<a href="http://www.nytimes.com/2015/08/03/world/middleeast/a-burger-joint-thats-irans-answer-to-mcdonalds.html" target="_blank">New York Times</a> reported.</p><p>"We are trying to get as close as we can to the McDonald's experience," the owner of a restaurant called Mash Donald's told the Times.&#xa0;</p><p>"No genuine American food chain has an outlet in Iran, mainly because of the government's hostility and the sanctions that make such businesses impossible," according to the Times.</p><p style="text-align: left;"><span>Pseudo-American chains&#xa0;in Iran include&#xa0;Pizza Hat, Burger House, and KFC - Kabooki Fried Chicken</span></p><p style="text-align: left;"><span>And then there is Cafe Raees (or <a href="http://www.raees1380.com/" target="_blank">Raees Coffee</a>) - which might not sound like anything familiar to Americans, but the picture&#xa0;from the cafe's <a href="https://www.facebook.com/pages/Caf%C3%A9-Raees-%DA%A9%D8%A7%D9%81%D9%87-%D8%B1%D8%A6%DB%8C%D8%B3/170686969700430?sk=photos_stream" target="_blank">Facebook page</a>&#xa0;and Instagram account&#xa0;tell all.</span></p><p style="text-align: left;"><span>There's a stark similarity to the ubiquitous Starbucks...</span></p><p style="text-align: left;"><span><div><div id="fb-root"></div><div class="fb-post" data-href="https://www.facebook.com/170686969700430/photos/a.187620551340405.25706.170686969700430/507658569336600/?type=1" data-width="500"><div class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/170686969700430/photos/a.187620551340405.25706.170686969700430/507658569336600/?type=1">Post</a>by<a href="https://www.facebook.com/170686969700430">Café Raees . ???? ????</a>.</div></div></div></span></p><p class="embed-spacer">This is the outside:</p><p class="embed-spacer"><div><div id="fb-root"></div><div class="fb-post" data-href="https://www.facebook.com/170686969700430/photos/a.286087621493697.45208.170686969700430/286087721493687/?type=1" data-width="500"><div class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/170686969700430/photos/a.286087621493697.45208.170686969700430/286087721493687/?type=1">Post</a>by<a href="https://www.facebook.com/170686969700430">Café Raees . ???? ????</a>.</div></div></div></p><p class="embed-spacer">&#xa0;Here's what it looks like inside:</p><p class="embed-spacer"><div><div id="fb-root"></div><div class="fb-post" data-href="https://www.facebook.com/170686969700430/photos/a.286087621493697.45208.170686969700430/456838674418590/?type=1" data-width="500"><div class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/170686969700430/photos/a.286087621493697.45208.170686969700430/456838674418590/?type=1">Post</a>by<a href="https://www.facebook.com/170686969700430">Café Raees . ???? ????</a>.</div></div></div></p><p class="embed-spacer">&#xa0;The beverages look very similar.</p><p class="embed-spacer"><div></div></p><p class="embed-spacer">&#xa0;Its aesthetic is very trendy.</p><p class="embed-spacer"><div></div></p><p class="embed-spacer">&#xa0;The cafe has latched onto the&#xa0;<a href="http://www.businessinsider.com/starbucks-cappuccino-off-the-menu-2015-6" target="_blank">flat white trend</a>:</p><p class="embed-spacer"><div></div></p><p class="embed-spacer">Does this iced beverage look&#xa0;familiar?</p><p class="embed-spacer"><div><div id="fb-root"></div><div class="fb-post" data-href="https://www.facebook.com/170686969700430/photos/a.289053874530405.45719.170686969700430/462618540507270/?type=1" data-width="500"><div class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/170686969700430/photos/a.289053874530405.45719.170686969700430/462618540507270/?type=1">Post</a>by<a href="https://www.facebook.com/170686969700430">Café Raees . ???? ????</a>.</div></div></div></p><p class="embed-spacer">But the frozen drinks seem slightly more adventures - like this frappucino-esque drink, topped with M&amp;Ms.</p><p class="embed-spacer"><div></div></p><p class="embed-spacer">&#xa0;The&#xa0;cafe seems like it&#xa0;more varied options when it comes to salads and juices.</p><p class="embed-spacer"><div><div id="fb-root"></div><div class="fb-post" data-href="https://www.facebook.com/170686969700430/photos/a.187620551340405.25706.170686969700430/458111944291263/?type=1" data-width="500"><div class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/170686969700430/photos/a.187620551340405.25706.170686969700430/458111944291263/?type=1">Post</a>by<a href="https://www.facebook.com/170686969700430">Café Raees . ???? ????</a>.</div></div></div></p><p class="embed-spacer">The desserts look a little more upscale, too.</p><p class="embed-spacer"><div><div id="fb-root"></div><div class="fb-post" data-href="https://www.facebook.com/170686969700430/photos/a.187620551340405.25706.170686969700430/453771238058667/?type=1" data-width="500"><div class="fb-xfbml-parse-ignore"><a href="https://www.facebook.com/170686969700430/photos/a.187620551340405.25706.170686969700430/453771238058667/?type=1">Post</a>by<a href="https://www.facebook.com/170686969700430">Café Raees . ???? ????</a>.</div></div></div></p><p class="embed-spacer">And its breakfast options are different, too.</p><p class="embed-spacer"><div></div></p><p class="embed-spacer">&#xa0;But the packaging is very, very similar:</p><p class="embed-spacer"><div></div></p><p class="embed-spacer">&#xa0;</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/song-made-using-coins-drummer-music-video-2015-7">This drummer created a whole song by only using the sound of coins</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="s1ZDM1djoe2BbhjqVRCIwkLubOlkcQgk" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "Raees" and got 8 results

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