Alleged Bitcoin scam artist bankrupt: Investors looking for millions

Alleged Bitcoin scam artist bankrupt: Investors looking for millions

- Willie Breedt is facing angry investors after millions were taken as investments into Bitcoin and other cryptocurrencies

- Breedt's VaultAge Solutions accepted R227 million from investors and then failed to repay the funds

-Now, 2 000 investors are on the hunt for Breedt, who is being accused of going on the run

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Willie Breedt, an alleged cryptocurrency scam artist, has been officially declared bankrupt.

News24 reports that 2 000 investors had handed over R227 million to the now-defunct company VaultAge Solutions.

Breedt reportedly failed to repay investments and the growth he had promised clients had never materialised.

Simon Dix, who entrusted over R7 million to Breedt, has successfully applied for a sequestration order against the alleged conman in the Gauteng High Court.

Two weeks ago, Breedt had reportedly gone into hiding after a colonel in the South African National Defence Force allegedly led investors in a manhunt.

The aim had been for 'debt collectors' to find Breedt and hopefully recover some of the money from him.


Willie Breedt
Source: Facebook

READ ALSO: Investors head to court after losing millions in cryptocurrency scheme

However, the disgraced businessman evaded the group and opened a case of intimidation before once again disappearing.

Investigators managed to locate Breedt at a Pretoria guesthouse, booked in under the name of a friend in a supposed attempt to hide.

Shortly after the court granted the sequestration order to Dix, the sheriff of the court accompanied by police, the Hawks and specialist forensic investigators raided a home where Breedt had allegedly been hiding.

Numerous electronic devices, including a laptop, were confiscated in the raid with investigators hopeful that information over where the bitcoin and other currencies might be could be found.

Shortly after the order was granted to Dix, the sheriff of the court, assisted by the police, the Hawks and a team of specialist cryptocurrency forensic investigators, raided a house in Silver Lakes where Breedt had allegedly been hiding since mid-June. gathered that rumours of Breedt's arrest were found to be untrue.

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