Macau (MNA) – Forger Technology, one of the companies involved in a cryptocurrency mining investment scheme in which 60 Macau investors have allegedly lost some HK$20 million (US$ 2.55 million) has released an official statement alleging that the terms of the original contract had been altered.
On Saturday, the technological company claimed that while the input amount on the first and second contracts were correct, the repayment terms had been altered from annual returns to monthly returns.
Dennis Lau Tin Chun, the co-founder of Forger had also told Macau News Agency (MNA) that the original repayment rate of 18 per cent had been altered to 20 per cent.
In the beginning of June, Forger claims that the firm discovered that the third and fourth contracts had been arranged without the two Hong Kong companies involved (Forger Technology and Genesis Hong Kong Limited), and that the terms were decided by Frederico Alexandre dos Santos Rosario, who was the representative of the company in Macau.
Rosario held a 10 per cent stake in the company and is also president of Grow uP Esports.
As a result, according to the statement, Forger Technology lost HK$3 million up to the fourth contract, and the altered interest rate was 12 times more than what was originally recorded.
In addition, the investors demanded a total of HK$40 million in returns (or HK$ 5 million owed for eight months.)
The founder of Forger Technology then claimed that a confrontation was made but negotiations failed on July 6, 2018, which led to Mr. Lau filing a report against Mr. Rosario at Kwun Tong police station.
Forger insists that the first four contracts are thus invalid, but the fifth, sixth and seventh contracts are valid and will continue to run.
In January, Forger held a seminar in the headquarters of the Macau Civil Servants Association (ATFPM) in co-operation with a local e-sports association, Grow uP eSports.
Rita Botelho dos Santos, who is the mother of Mr. Rosario, has told MNA that she has filed complaints in Hong Kong against Genesis Hong Kong and Forger Technology as well as to the Judiciary Police (PJ).
