Bitcoin CEO on the Run

Bitcoin just can’t get away from bad press as the CEO of Cyprus-based bitcoin vendor Neo & Bee is sought by the authorities with an arrest warrant in place.

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Photo: Atana / Flickr

Cyprus Mail reports that the business man is “a person of interest in an ongoing investigation” regarding 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.

The investigation into the Cypriot entrepreneur may spread into a Europe-wide arrest warrant soon if the authorities cannot find any leads soon.

When Neo & Bee was first launched the vendor was well received by the bitcoin community but that has quickly gone sour.