As reported by News24, Willie Breedt, the founder of VaultAge Solutions (a cryptocurrency investment company), went bankrupt last week and investors now appear to be losing 227 million in South African rand ($ 13,3 million).
About 2.000 investors gave their money to the company, which promised to act as a "digital treasure that increases wealth over time." of time", With the aim of" relieving financial pressures from individuals, " businessmen, Investors and communities. "
While the company described itself as an entity of media and events, VaultAge Solutions also offered a platform for investors to invest in Bitcoin (BTC) and alternative cryptocurrencies.
A few weeks ago, Breedt ended up hiding after some cryptocurrency investors asked to contact him and recover money them, reports News24. Before disappearing, Breedt informed the local police that he was being threatened.
According to the information, one of the investors of the most inactive company gave Breedt 7,5 million rand (440.000 dollars), but when the investment failed and the investment commitments were not kept, then he filed a complaint with the Gauteng Supreme Court in Pretoria.
The report says PricewaterhouseCoopers was appointed by South Africa's Reserve Bank to investigate the issue, including how agents were used to sell cryptocurrencies.