15 November 2019 16:41, UTC

Komodore64, a Dutch blockchain gaming company has been searching for its CEO alongside the Dutch National Police. But this isn’t some kind of search for a lost person, it’s a manhunt.

Sam NARAIN, the CEO of Komodore64 is suspect of defrauding several investors of millions of euros into his company and spending it on parties, also failing to pay his employees accordingly. According to Dutch police, Komodore64 acquired investments from various people, but the biggest one came from Italy in the form of 600,000 euros.

Komodore64 was supposed to be a blockchain project that was going to track transactions in multiple video games. In order to push the idea as far as possible, the suspect allegedly told his employees to act as Goldman Sachs representatives to add more credibility to his brand.

Fred PEDERSEN, the founder of Nowescape.com and a big supporter of the blockchain commented:



“Although it’s understandable from a business standpoint why Narain would go to such lengths to somehow legitimize himself in the eyes of investors, it’s simply baffling as to why he wouldn’t start working on the project when he had all of the resources. Those millions that he stole and which are likely to earn him a few years in prison, could have been turned into tens of millions if he were to create a great product. Everybody’s in the market for a blockchain system nowadays, he would have had a very small chance of failing”.

The searches for Sam Narain have concluded in The Hague, where the man was arrested in a hotel. His questioning is scheduled for Tuesday next week.

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