By Komodore64, a Netherlands based gaming startup that had claimed to have raised 78 million euros and also spread like wildfire across the crypto community is supposedly bankrupt, and company founder Sam N. has been arrested reports local media outlet Sprout.
Komodore64 was supposed to be a gaming platform which would utilize blockchain technology to track their transactions. The platform was to be built on the Komodo smart chain platform. A large number of people fell for this huge trap especially after media giants Bloomberg and the Telegraph published an announcement from founder Sam N. where he claimed that Komodore64 would’ve raised 78 million euros in growth capital.
Thousands of people invested in the project with some investors betting close to 600,000 on the Hauge based company. When previously interviewed about the million-dollar funding round, N. had cited that the funding came from a “well-known investment company.” It was later found that Sam N. had a group of people presenting themselves as a delegation from banking giant Goldman Sachs.
The gaming platform was launched in June and a gala party was held for the occasion. The party helped in Fokker Terminal in the Hauge and cost thousands of euros. Later investigation revealed that the Fokker terminal was a supplier for Komodore64 who didn’t even receive the last month’s bill.
The company had a total of 12 employees who later filed for bankruptcy with their employer, this was the same time when founder Sam N. was arrested at the Hilton hotel. The man was supposedly staying at the hotel because he was feeling threatened.
Curator John Dullaart revealed that Sam N. would be questioned on Tuesday, November 12. He also mentioned that the reason for Sam’s arrest was not yet disclosed, but he imagined it was something related to the bankruptcy filing. The Komodore64 investors had been duped by saying that a Discord chat channel had been started to talk about the various troubles the company was going through. Members of the community have suggested that Sam’s passport must be detained to ensure his stay in the country.
Despite the total amount of money invested in Komodore64 still unknown, the bankruptcy trustees are confident it’s a hefty sum. Apart from the funds there are overdue rent and salaries.
Even though the company has hit rock bottom, it still has a well-developed foundation that has some properties such as the games they developed and the platform they’ve built. Knowing the reason from Sam’s arrest will also bring into play the possibility of the project restarting.
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