United Kingdom - Tuesday, 08 October 2024 – A representative group of former investors in Japanese company Smart Contract has called for an investigation into the whereabouts of its CEO Satoshi Kobayashi, whom they accuse of defrauding them of millions.
Through his company Smart Contract, Kobayashi presented himself as an expert in blockchain technology and cryptocurrency investments and convinced investors to trust him with large sums of money under the pretense of making profitable investments in cryptocurrency.
But this representative group of investors accuses him of stealing their money after he approached them in early 2023 to invest in what he said was a lucrative new crypto opportunity.
For months, the investors say Kobayashi sent them fake reports to give the illusion that their money was growing. Instead, they say, he used the money to fund his extravagant lifestyle.
In addition to an alleged drug addiction, Kobayashi is said to have deep ties to Japan’s mafia underworld where he apparently used the investor group’s money to settle debts or secure protection as his addiction and financial troubles spiraled out of control.
When the investors grew suspicious about their funds, Kobayashi vanished, leaving them in the dark and millions of yen unaccounted for.
The investors were left scrambling. Some launched private efforts to track Kobayashi down, but with little cooperation from authorities, no one has managed to locate him.
The possible involvement of organized crime has only complicated matters, leaving the investors wondering if Kobayashi’s disappearance was orchestrated by forces far beyond just financial fraud.
The investors are now insisting that authorities find Kobayashi to uncover the truth.
Michael Kim – Head of Outreach
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
