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Topic: [2014-04-11] Cyprus police issues arrest warrant for bitcoin entrepreneur (Read 880 times)

legendary
Activity: 3766
Merit: 1217
Yeah, add to the fact that some won't have the balls/money/time/energy etc to file a complaint or follow through with the stresses of a lawsuit etc.

In some cases, if the victims file a police complaint, then they'll be the ones who ultimately goes to the jail. We always operate in the grey zone regarding tax and such stuff.
legendary
Activity: 2114
Merit: 1040
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Does anyone know:
Was Neo & Bee started here with money raised in the "securities" forum?
//I'm just curious "where they came from".
global moderator
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Yeah, well said. Sadly though it seems many wannabe Bitcoin entrepreneurs are really just looking to scam. How much did he actually make off with in total? I suspect the figures quoted are small fries compared to all the rest.

Most of the people will never launch a complaint. Sometimes, the victims are in a legally weak position (due to factors such as tax evasion). That is what encouraging the scammers.

Yeah, add to the fact that some won't have the balls/money/time/energy etc to file a complaint or follow through with the stresses of a lawsuit etc.
legendary
Activity: 3766
Merit: 1217
Yeah, well said. Sadly though it seems many wannabe Bitcoin entrepreneurs are really just looking to scam. How much did he actually make off with in total? I suspect the figures quoted are small fries compared to all the rest.

Most of the people will never launch a complaint. Sometimes, the victims are in a legally weak position (due to factors such as tax evasion). That is what encouraging the scammers.
global moderator
Activity: 4018
Merit: 2728
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The title should be Cyprus police issues arrest warrant for bitcoin con-artist, and not Cyprus police issues arrest warrant for bitcoin entrepreneur. People like him bring disrepute to Bitcoin, and eventually pushes its value down. I will be really happy if this man gets a lengthy prison sentence for cheating unsuspecting Bitcoin investors of their hard earned money.

Yeah, well said. Sadly though it seems many wannabe Bitcoin entrepreneurs are really just looking to scam. How much did he actually make off with in total? I suspect the figures quoted are small fries compared to all the rest.
legendary
Activity: 4256
Merit: 1313
The title should be Cyprus police issues arrest warrant for bitcoin con-artist, and not Cyprus police issues arrest warrant for bitcoin entrepreneur. People like him bring disrepute to Bitcoin, and eventually pushes its value down. I will be really happy if this man gets a lengthy prison sentence for cheating unsuspecting Bitcoin investors of their hard earned money.

Spot on. I was going to say something very similar. If you are stealing money that isn't an entrepreneur, but a thief.
legendary
Activity: 1540
Merit: 1000
Exactly, I don't like the way people are blindly siding with people who are arrested just 'because' they're into Bitcoin, it'd be nice to see them go after the regular scammers on this board, I could point them to a few places. Like I've said before, when you see Bitcoin users getting arrested that don't have blatant and obvious ties to organised crime or are con artists then I'll start getting worried, the smaller countries are actually being pretty tempered and diplomatic about Bitcoin compared to the irrational superpowers.

That said, the people who resorted to threatening the life of his daughter and assholes and should be either warned or put in jail too, violent and irrational pricks have no place in society, it's not the daughters fault he was doing something dodgy.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
The title should be Cyprus police issues arrest warrant for bitcoin con-artist, and not Cyprus police issues arrest warrant for bitcoin entrepreneur. People like him bring disrepute to Bitcoin, and eventually pushes its value down. I will be really happy if this man gets a lengthy prison sentence for cheating unsuspecting Bitcoin investors of their hard earned money.

I visited the Neo & Bee website once, and had a good first impression.
They seemed like a "real company", so such a fast ending was a big surprise.

Agreed that he should be punished.
legendary
Activity: 3766
Merit: 1217
The title should be Cyprus police issues arrest warrant for bitcoin con-artist, and not Cyprus police issues arrest warrant for bitcoin entrepreneur. People like him bring disrepute to Bitcoin, and eventually pushes its value down. I will be really happy if this man gets a lengthy prison sentence for cheating unsuspecting Bitcoin investors of their hard earned money.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
DANNY Brewster, CEO of bitcoin vendors Neo & Bee, is wanted by police on suspicion of fraud.

Police issued an arrest warrant for Brewster on Friday. Sources told the Cyprus Mail that Brewster is “a person of interest in an ongoing investigation” involving the alleged defrauding of Neo & Bee customers.

The Mail is told that so far three formal complaints have been filed against Brewster alleging he fraudulently obtained money from customers in exchange for bitcoins, which they never received.

The two earlier complaints filed last week concerned the amounts of €20,000 and €15,000.

A police source did not rule out subsequently issuing a European arrest warrant for Brewster.

Other media outlets have reported that the company halted operations late in March before its software to carry out transactions had even gone live.

Brewster dropped off the grid on April 2, when he last posted on a bitcoin forum claiming he had fled the island due to threats against his family. The entrepreneur also claimed that he reported the threats to authorities here, although police said no formal complaint was filed.

In his post, Brewster said he initially left Cyprus on a “short-term temporary basis” in order to raise additional capital for the business “through the sale of my equity as we had run out of liquidity.”

His plans changed, he added, the moment threats were made against his daughter, at which point he decided to remain abroad and to sell all of his equity in the company.

More:
http://cyprus-mail.com/2014/04/11/cyprus-police-issue-arrest-warrant-for-bitcoin-entrepreneur/


Neo & Bee had such a good buzz going; Too bad this one failed.
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