The founder of Komodore64 has been arrested in The Hague. Sam Narain is accused of money from the console project misappropriated. The game platform with its own crypto currency (K64) had allegedly received nearly EUR 78 million from investors. According to Dutch media reports, the company has filed now bankruptcy. Played investors, wrong co-founders and bread boxes.
Moritz wire
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the founder of The crypto Start-ups Komodore64 has been arrested in The Hague. How the Dutch news magazine, Sprout reported, has notified the company, which has collected 78 million euros from investors, bankruptcy. Founder Sam Narain is said to have embezzled money from the block chain-based console project. This is the provisional low point in a cryptographic adventure with dupes suppliers, fake investors, and verprellten employees.
Komodore64 took office with great ambitions. As a gaming platform Komodore64 block chain should integrate it-based transactions, which should be on the platform Komodo to use. The project was able to gain numerous people who have invested in the corresponding crypto-currency K64.
Narain had even claimed last July that Komodore64 78 million Euro, growth would have generated capital through investors. The message lured in turn, investors in the supposedly up and coming project.
Investment-charade
According to Sprout Narain has applied for the acquisition of new investors, a particularly ingenious Trick. The financial support amounting to millions of Narain said at the time that the money came from a “well-known investment company”. The recent studies showed, however, that Narain has commissioned a group of people, as a Delegation of the American Bank Goldman Sachs, which allegedly donated millions to.
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The Investment charade is not the only trick that Narain should have played. The Start-up celebrated its official launch with a launch party in the value of several ten thousand Euro in the Fokker Terminal in The Hague. Now, it has turned out that suppliers should have rented from Komodore64 the venue, which remained on the bill.
But the confusion goes further: Max Theyse, who will be introduced to performing as a co-founder of Komodore64, to have exercised this role never actually. According to Komodore64-curator John Dullaart, the actual co-founder was “someone else”. This Narain have displaced, however, shortly after the founding of the company.
in Addition, the twelve employees of the company waiting for months on their salary. Two weeks ago, the employees of Komodore64 therefore requested that the bankruptcy of the company.
Meanwhile, the Dutch police has arrested Narain. Whether the arrest is directly related to the bankruptcy of the Komodore64 in connection, or any other accusations to the arrest of the led, is not yet clarified.
Blockchain instead of bread box
The Name Komodore64 alludes to the legendary home computer, Commodore 64, called because of its shape also loving the bread box. The Komodore64 of the prominent template at the naming has to be inspired: a gift. However, K64 has provided impressive proof that a media-effective Marketing that a well-known name attracts so pleasant memories from the nursery-associated and also in block-chain-based transactions, integrated yet not a good gaming platform is guaranteed.
the Status quo is so far little cause for celebration. In addition to numerous card games, in particular, Tamagochi-like collection of applications, which promise all the True Ownership through the Blockchain, the current game trends. Creative approaches that go beyond a Blockchain Economy or the possession of rights, must develop in the Gaming-sphere.
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