A couple of weeks following Neo & Bee CEO Danny Brewster’s post on a web forum regarding his mysterious disappearance comes another post on social sharing website Reddit in attempts to clear his name.
Entitling his post The full picture from Danny Brewster, the post outlines some important information, which Brewster says is against all advice he’s received on the matter.
Brewster starts his post by addressing fraud concerns that have been bouncing through media outlets and social media platforms:
I sold several people bitcoins for cash, most of which had them sent directly to their own wallets or exchange accounts prior to Neo and Bee becoming open to the public. There were 4 people however that requested for me to hold them until they provided me with an address to send them. Two people that bought on November 20th 2013, One Person that bought from me twice once on the 2nd December 2013 and the 20th December 2013 and one person who bought from me on the 24th December 2013. There was a 5th person I was holding Bitcoin for however following a change in their personal circumstances I bought the bitcoins back from them.
Sorry to disappoint those that believe the tales that I simply took them…. The keys are still stored on paper. The total sales to these 4 people amounts to 75.29270138 BTC which were purchased for a combined total of €35213.57 so I have no idea where the values reported in the media have been derived from.
I have not received one single request from the individuals who bought the bitcoins from me to send the coins to an address they provided. With one exception a request was made but that was received from the individual that introduced one of the buyers to me, they requested for me to transfer the coins to his Bitstamp account. I didn’t send the coins to his address as he was not the person that I had the agreement with. One of these people went directly to the police following rumors that I had fled the country.
Most recently, we learned that the Cypriot police has issued an arrest warrant for Brewster, who chiming in on the matter by demanding the Criminal Investigation Department at the force check their emails and/or answer their telephones.
I have been trying for days to contact them to resolve this situation. The whole thing could be cleared up in a matter of days, because as of right now their case is based on rumors of me fleeing Cyprus which is complete garbage. I still have a house full of my own belongings, assets, family, friends and most importantly my daughter in Cyprus.
With respect to flee allegations, Mr. Brewster named three reasons as to why he’s not on the island of Cyprus. He says that he has a family funeral to attend, the situation can be resolved without him being in Cyprus, and “The manner in which the investigations are being carried out are concerning” (referring to the alleged unresponsiveness of the police to his emails/calls).
I have also instructed a lawyer in Cyprus to make direct contact with the police to try and put a resolution in place so this can be concluded quickly so that I can continue working with the business recovery and sales agents to resolve everything surrounding Neo & Bee.
Brewster poses this question to the Cypriot police:
If I buy some building supplies and agree to provide a delivery address at a later date, but never do provide an address. Has the seller committed fraud if he still holds the supplies for me?
On Neo & Bee, the business:
To clear a few things up surrounding Neo & Bee, yes there are creditors to the business and I have not ran with any coins, we had made payments in excess of €1.4m with many of the coins being converted to Euros before the run up in price, the largest amount converted at once was the day Silkroad was busted, I had to take the decision on that given day to convert them or risk them becoming pretty worthless and the business not getting off the ground. The outstanding funds from BitFunder/WeExchange are valued at this moment around €500,000. The coins of my own I have on MtGox would have covered all creditors with a claim against the business in full. Had I wanted to run off with coins, it would have been better to do so before spending all of them and the remainder of my own coins on the business.
Brewster admits to purchasing a Bentley vehicle in late 2013, and says he’s planning to sell it this Summer in order to satisfy his financial obligations to his company’s creditors.
“To this end I am concentrating first and foremost on resolving the issues with Cypriot police including my planned return to Cyprus. Only then I will concentrate all of my time on resolving everything surrounding Neo and Bee,” he closed.
My question to you is: what do you make of Brewster’s post?