Afriq Arbitrage System (AAS), a prominent digital investment platform, has issued a firm rebuttal to what it describes as false and misleading reports circulating on social media regarding its Founder and CEO, Mr. Jesam Michael.
In an official statement on Tuesday, the company clarified that Mr. Michael has not committed any financial crime, contrary to rumors suggesting otherwise.
“We at Afriq Arbitrage System feel compelled to address and correct recent false narratives about our Founder and CEO, Mr. Jesam Michael,” the statement read.
According to the company, the individual responsible for the misappropriation of funds is Mr. Abayomi Oluwasesan, a former staff member. His misconduct allegedly caused operational disruptions within AAS in late 2023.
AAS further noted that in November 2023, Mr. Abayomi appeared in a publicly available video and a live “Ask Me Anything” (AMA) session with investors, during which he confessed to mishandling company funds and issued a full apology to the AAS community.
“Mr. Abayomi publicly admitted to his actions and took responsibility before our global investor audience. This remains a matter of public record,” the company emphasized.
Despite this confession, AAS expressed concern that certain individuals are now attempting to shift blame onto Mr. Michael, pushing a false narrative for personal gain.
“To be clear: Afriq Arbitrage System and Mr. Jesam Michael are the complainants in this case, not the accused,” the statement added.
The company said it was the party that formally reported the matter to the relevant authorities and has fully cooperated with ongoing investigations. It stressed that any suggestion of wrongdoing by Mr. Michael or the company is both unfounded and legally misleading.
AAS urged media outlets, social commentators, and the general public to rely on verified facts—such as official complaints, court records, and video evidence—rather than social media speculation or manipulated stories.
“We encourage everyone to focus on the available evidence: video confessions, written apologies, and formal reports, rather than one-sided accounts serving private interests,” the company stated.
Despite ongoing distractions, AAS reaffirmed its commitment to transparency, innovation, and restoring investor confidence.
“We are not distracted. Our mission remains unchanged—to serve our global investor community with integrity and value,” the company affirmed.
The company also extended gratitude to its loyal investors, stakeholders, and partners who have remained supportive during this challenging period.
“We deeply appreciate our supporters who stand with us in truth and progress,” the statement concluded.
