Willie Breedt, CEO of cryptocurrency investor firm VaultAge Solutions, has been formally declared bankrupt while running from an angry investor.
As reported by CurrencyTimes on Monday, Breedt – who is associated with duping more than 2,000 speculators – was given a sequestration request by the Gauteng High Court in Pretoria on Friday.
- A sequestration request is a request conveyed by a court that powers an account holder into chapter 11.
- The request comes after Breedt sought refuge from upset speculators. They looked for the arrival of around 277 million South African rands ($16.3 million) they had put with VaultAge for interest in digital forms of money.
- Financial specialists appointed obligation gatherers to attempt to recuperate their misfortunes.
- Breedt had told police he was being threatened before he vanished.
- He was found by agents covering up at a visitor house in the Silver Lakes Estate in Pretoria.
- After the court request was without a doubt, an attack was led on the Silver Lakes premises by the sheriff of the court, South African police, and composed wrongdoing unit called the Hawks and a group of measurable examiners work in crypto wrongdoing.
- A few electronic gadgets were taken, including a PC and a Ledger Nano equipment wallet – a system for putting away digital forms of money.
- The South African Reserve Bank, the nation’s national bank, has now allocated PricewaterhouseCoopers to explore VaultAge Solutions and operators associated with selling digital forms of money for the now-ancient organization.
- The sequestration request came about because of a court application from one of the association’s most unmistakable speculators, Simon Dix. They said the firm owes him 7.5 million rands (practically a large portion of a million U.S. dollars).