RJS Capital Liquidation Report Exposes Missing Records, Crypto Questions and Rory Conacher

For years, investors were told that RJS Capital was a legitimate investment operation built around cryptocurrency trading and foreign exchange activity. Supporters believed their money was being actively managed while critics who raised concerns were often dismissed as troublemakers. Now, court-appointed liquidators are presenting a very different picture. *TIME STAMPS* 00:02:00 - Dr. Steve Zoom (Salarium Life) 01:12:00 - Wendy Nicholls @wendylnicholls 03:27:37 - Megan Lynch @legendmaker-meganlynch 03:58:25 - Coffeezilla @Coffeezilla 04:10:22 - RJS Capital *THE COLLAPSE OF RJS CAPITAL* In August 2025, the High Court of South Africa placed RJS Capital into provisional liquidation following legal action brought by creditors Michelle and Sébastien. The company was removed from management control and placed under independent supervision. Liquidators were subsequently appointed to investigate the company's assets, liabilities, records, and financial affairs. By October 2025, the liquidation became final and moved into a formal insolvency process. What had previously been debated on social media was now being examined through court proceedings and independent investigations. *THE R27 MILLION SHORTFALL* At the second creditors' meeting in May 2026, liquidators tabled their first substantive report. According to that report, RJS Capital faced liabilities exceeding R27 million. At the same time, investigators had not identified sufficient recoverable assets to offset those liabilities. Assets, debtors, and potential claims remained under investigation, leaving creditors facing significant uncertainty. *CRYPTO QUESTIONS REMAIN* One of the most important findings involves the company's alleged cryptocurrency and foreign exchange trading activities. For years, investors were told trading activity sat at the heart of the business model. Yet liquidators reported that the nature of key transactions remains unclear. Cryptocurrency wallets that allegedly received investor funds have become a focus of further enquiries as investigators attempt to establish where money moved and who controlled it. *THE RECORDS PROBLEM* The report also states that RJS Capital appears to have failed to maintain adequate financial records. That finding creates obvious difficulties for investigators attempting to trace transactions and establish what occurred. Records provide evidence. Without them, determining where funds came from, where they went, and who benefited becomes significantly harder. *RORY CONACHER AND COOPERATION* One of the most significant statements in the report concerns Rory Conacher himself. The liquidators state that they have been unable to provide a comprehensive explanation for the company's failure because of the director's alleged failure and/or refusal to cooperate. Whether Rory disputes that characterisation remains his right. However, the statement now forms part of the official liquidation record. *COULD THE BUSINESS BE UNLAWFUL?* The liquidators stop short of reaching any final conclusions. However, they specifically identify the nature of the business and whether it should be declared an unlawful enterprise as an area requiring further investigation. No finding has been made, but the fact that liquidators believe the issue warrants examination should not be ignored. *WHY THIS STILL MATTERS* Some people may view the liquidation as old news. That would be a mistake. Rory Conacher remains active and continues promoting recovery-related initiatives connected to previous investment losses. That makes the liquidation findings relevant today because the questions raised by liquidators remain unresolved. They are still trying to determine what happened to investor funds, why records appear inadequate, why cryptocurrency transactions remain unclear, and why they say they have not received sufficient cooperation. *THE QUESTIONS THAT REFUSE TO GO AWAY* Where did the money go? What happened to the cryptocurrency trading operation investors were told existed? Why are investigators still trying to understand key transactions? Why are cryptocurrency wallets now part of the investigation? Why do liquidators say they have not received sufficient cooperation? The liquidation of RJS Capital is no longer a debate between supporters and critics. It is a court-supervised investigation that is still unfolding. More findings may emerge. More questions may be answered. But one thing is already clear: the official record now paints a picture that looks very different from the story investors were told while the money was flowing. READ THE FULL INVESTIGATION: https://www.dehek.com/general/scam-fraud-investigations/rjs-capital-liquidation-report-exposes-missing-records-crypto-questions-and-rory-conacher/ Learn the warning signs before you lose money. The Scam Survival Guide Series: https://ko-fi.com/dehek/shop/thescamsurvivalguideseries