86FB, an investment platform, has accused Fintech business Flutterwave of not being able to run efficiently and pay its investors.
Flutterwave has intentionally frozen the money of the platform, which claims to focus on football and collaborates with William Hill, a worldwide online gambling corporation based in London, England, to incorporate probability and statistics. It went on to say that as a result, it was unable to repay its investors.
Noting that it would not succumb to unreasonable acts, the platform called on investors to join it in enforcing Flutterwave to release its funds.
What 86FB is saying
The platform, in a statement to investors, noted, “A series of things have happened recently that make us unable to operate normally, and I apologize for this.
“The purpose of today’s announcement is to explain to you why 86fb cannot run normally. The reason is because we have been maliciously frozen by a payment company called Flutterwave.
“This payment company maliciously froze our funds, and intends to take the funds as their own and extort us by cooperating with the local police. 86fb have never yielded as we have been trying our best to protect the rights and interests of every user, but the other party has a strong background in Nigeria, we cannot fight against it, so now 86fb cannot withdraw money normally”.
“For everyone’s funds, and for the dignity of 86fb, we will not bow to this force. On behalf of 86fb, I implore you all to join me in fighting against Flutterwave unreasonable freezing of funds. I hope you can help us get justice.”
The platform, however, promised investors that it will pay investors as soon as Flutterwave refunds all of the funds it froze.
It said, “If the money is to be returned, 86fb will pay all users’ funds as soon as possible!
“At present, we have received feedback from many members that they have to get their own money when they find Flutterwave, so the platform recommends everyone to go to the Flutterwave payment company to get back their own funds!”
What you should know
Nairametrics had earlier reported how Nigerians were reacting to the possible crash of 86FB investment platform.
The platform says it runs a hedge fund arbitrage method that combines finance and conceptual science to earn stable returns with extremely low risk in sports gambling.