He said the business took money from customers through an intermediary company called Flo 2 Cash.
It used these funds to fulfil previous customer orders in what Patel said was a “Ponzi operation model”.
Tech Vault Enterprises was incorporated in April 2020.
Rahil Munir Tharani of Hamilton is listed as the sole shareholder and director.
“I’m not good at the moment,” Tharani told the Herald today. “I’m not right with my health.”
He added: “I don’t know about Flo 2 Cash. They’re a different entity.”
Patel said Tharani was “fully co-operating” with the liquidation.
“I’m the one who’s copping it right now in terms of people calling me up.”
Patel said a call centre was used to approach vulnerable people across the…