A South African author has published an open letter imploring Atul and Ajay Gupta to use bitcoin as a means to circumvent the banking embargo targeting the family. The Gupta family came to South Africa from India during the 1990s, and soon built a business empire – spanning the media, mining, and computer hardware industries. Recently, the Guptas have been the target of accusations of corruption owing to ties to South African president Jacob Zuma.
“The Very Banks Who Closed Your Bank Accounts and Made You Bleed Are the Ones Who Would Feel the Pain in All of This”
As a consequence of accusations of money laundering and suspicious transactions, numerous South African and international banking institutions have recently shut down Gupta-owned accounts.
South African author, Philip Haslam, has published an open letter to Atul and Ajay of the Gupta family, imploring them to adopt bitcoin as a means to circumvent the banking embargo that currently targets the family. Philip Haslam is the author of ”When Money Destroys Nations” alongside Russell Lamberti, which focuses on the social toll of hyperinflation – drawing heavily from Haslam’s work on Zimbabwe.
Haslam’s letter opens by stating “I have been following the recent media attention around your banking problems with some interest. What a dilemma you find yourself in! Banks won’t bank with you even when you own shares in them and own certain politicians who regulate those banks.” […]