GREEN CRYPTO SCHEME SINKS DEEP IN THE RED
I received a strange and barely literate email when I last wrote about “entrepreneur” Varun Datta.
His company 4New Limited had raised £34million from investors, who wanted to know what had happened to their money.
After my article appeared I heard from a supposed lawyer using the name Madhuri Balaji but whose email was sent from a gmail account in the name of Jennifer Olay.
The message claimed I had misquoted Datta, adding – and this is verbatim: “The reason of this letter is to endorse you of my customers’ rights and to are seeking your agreement to disable or remove the hyperlink and retract the assertion immediately.”
4New Limited had claimed to be able to make a mint by providing power from green sources to companies that mine cryptocurrencies.
When I asked Datta, 31, if it was misleading for his website to claim that his company owned power plants when this was not the case, he responded: “Our disclaimers clearly state that everything here is forward facing and that we are a start-up.”
We ignored the demand to remove
‘‘ Investors want to know what happened to their £34m
links to the online version of my story that were made by his lawyer, who insisted “he is proved harmless in front of the honorable Court”.
Hardly. Datta, from London, has now been made bankrupt.
The latest accounts for 4New show that it is £1m in the red and its virtual currency Kwatt is valued at $0.0001 a piece.