📢 Update from Aza Ventures
Dear Community,
We’d like to give you a full update on the current situation, based on all the developments so far:
🔹 1. Discussions with Ravindra:
We are still in regular contact with Ravindra. He continues to give the same assurance — that he is arranging funds to start refunds, and expects to have something in approximately 3-4 weeks. He says he is also working on a realistic refund plan, which he will share when he is ready to send the first tranche.
🔹 2. Calculation work:
We are still meticulously calculating the refund amounts needed for every investor, aiming to at least cover everyone’s initial principal. With hundreds of investors and countless permutations of deals, this is an enormous task, but we are committed to doing it accurately.
🔹 3. KYC/KYB process:
Please note: KYC for individuals and KYB for businesses will be mandatory to receive any refunds that come from Ravindra.
We will launch this process via Blockpass (or a similar platform), but only when we have at least the first tranche from Ravindra, so your compliance process is timely and meaningful.
🔹 4. On past promises and personal trust:
We’ve seen all the screenshots and posts highlighting the promises made and guarantees taken.
The reality is: Waseem genuinely considered Ravindra a very dear friend — someone he trusted so completely that he believed if anything ever went wrong, Ravindra would sell all his assets to compensate him. That was the level of personal trust, similar to how many of you trusted Waseem.
Sadly, that trust was betrayed. Waseem’s intentions were never malicious. Those who’ve known him over years can attest to this.
Through this scam, Waseem has lost everything: his reputation, his company, his personal assets, is away from his family, and today stands judged as a criminal — something he will fight in court to prove is undeserved.
No matter the legal outcome, Aza Ventures as an operation is officially over. We will never raise funds again. For pending private sales distributions, we are actively approaching projects to directly airdrop or allow claims to investor wallets.
🔹 5. Joining the legal fight against Ravindra:
We will soon launch a portal where you can submit your details if you’d like to be formally attached as a victim in this case.
Our legal team will add you to the proceedings at no cost to you — we will cover all legal fees.
🔹 6. For those considering legal action against us:
We completely understand the frustration. If you choose to file a legal case against us, that is your right.
Please note: once a case is filed, it becomes a separate legal matter, and even if Ravindra refunds us any amount, we will only be able to process refunds to you after the court reaches its decision on your case.
We will fully cooperate, be transparent, and present all our evidence in court to show we had no malafide intentions, and that we too are victims in this situation.
🔹 7. On who we are:
We are not criminals. We didn’t scheme or plan to cheat anyone. We trusted the wrong person blindly, and we accept that we should have done better. For this, we sincerely apologise.
🔹 8. Funds & transactions:
Every dollar we collected for OTCs was transferred to Ravindra — we have all the transaction records, which will be provided in court.
🔹 9. Use of fees:
Whatever we earned in fees, plus additional assets we personally liquidated, were used to market buy SUI 2,3,4, SEI 4 and MOVE 1,3, and distributed in May/June to the community. We will provide all evidence in court.
We have already shared many proofs in the community in the past. Those who believe us will believe us, and we understand there are some who never will, no matter how much evidence is shown.
🙏 We hope this gives you more clarity. We will continue to update you with every significant development. Thank you for your patience and for standing by as we all work through this together.
