Crypto investment company organizer declared bankrupt after fleeing investors

Crypto investment company organizer declared bankrupt after fleeing investors

By Kluma | InterestingCrypto | 6 Jul 2020

The organizer and CEO of cryptocurrency investment firm VaultAge Solutions, Willy Bridt, hiding from defrauded investors, was found by the police and declared bankrupt. It is reported by News24 .

During its work in South Africa, the VaultAge project attracted ~ $ 16.3 million from 2 thousand investors. When its participants realized that they had lost investments and demanded compensation from Bridt, he went on the run.

After that, a group of investors hired collectors, whose tasks included searching for Bridt and returning funds. After some time, the company’s organizer contacted the police and informed about the threats.

Immediately after the appeal, he fled again. Later, law enforcement authorities managed to find him in a guest house, while seizing computer equipment and a hardware wallet Ledger Nano. Bridt himself was given a court order declaring him bankrupt.

One of the company's largest investors, Simon Dix, filed a petition with the court. According to him, he invested about $ 500 thousand in VaultAge.

At the same time, the Central Bank of South Africa instructed to investigate the activities of other employees of the investment firm involved in the cryptocurrency turnover on behalf of the company.

Recall that in April it became known about plans to tighten the regulation of cryptocurrencies in South Africa.


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