Head of Bitcoin Trading Firm is Wanted in Cyprus on Suspicion of Fraud

The British co-founder of a company selling Bitcoins is wanted by Cyprus police on suspicion of fraud.
Danny Brewster, 27, is accused of failing to deliver £70,000 worth of bitcoins, reports The Daily Mail.

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The Bentley-owning Briton also allegedly racked up debts of about a million euros on the recession-hit island, a local financial newspaper reported.

These stem from ‘a major marketing campaign, employing nearly 20 staff and developers, renting office space and buying furniture,’ the Financial Mirror said on its website on Saturday.
Brewster is claimed to have lavished an estimated half-a-million euros alone on a huge advertising blitz for the recent launch of his company, Neo & Bee.

His baffled and angry employees, most if not all of them now out of work, were not paid in March.