Dutch-based Komodore64 Blockchain’s Founder Detained for Making False Claims, Earning $86 Million

Founder of Blockchain game development startup Komodore64, Sam N. allegedly got arrested due to the false claims he made in order to lure in investors. He was successful in raising 78 million euros from the scam reports Coin Telegraph.

Lying to lure in investors is something the cryptosphere has seen before, but what takes the cake is the fact that even the employees were misled.

In order to grab investors’ attention, N. talked up the funds that the project was able to raise. One false claim that spread around was that Goldman Sachs was an investor. The latter never happened, in fact, it has been reported that a group of individuals staged as the investment firm.

Launched in June of this year, Komodore64 employees disclosed that an inauguration ceremony that cost thousands was thrown only to find out that the bills did not make it to rightful individuals. This led the team to file for bankruptcy on behalf of the firm.

Interestingly, Max Theyse was supposedly presented as the Co-Founder, however, he never held such role and it was in fact someone else. N. got caught red-handed at a hotel, where he was hiding from investors.

This isn’t the first crypto-related scam to appear in Netherlands reports the news outlet, as the police previously teamed up with U.K.’s South West Regional Cyber Crime Unit, Eurojust and National Crime Agency to arrest six people in what appears to be a $27 million crypto theft. Then there was Barry van Mourik, who similar to N., tricked investors, but in a different manner. Mourik managed to convince investors to put money in a fake Bitcoin mining operation, which helped him raise 23 million euros.

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