Share this article
Cyprus Issues Arrest Warrant for Neo & Bee CEO Danny Brewster
A warrant for the arrest of Neo & Bee CEO Danny Brewster has been issued in Cyprus.
By Stan Higgins
Updated Sep 11, 2021, 10:39 a.m. Published Apr 11, 2014, 9:10 p.m.
Danny Brewster, founder and CEO of Cyprus-based bitcoin depositary institution Neo and payment service Bee (known collectively as Neo & Bee), is now wanted by domestic law enforcement officials.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
reported that an arrest warrent has been issued for Brewster, who earlier this month was reportedly accused of defrauding customers.
The embattled CEO has been named as a "person of interest" in an investigation of the troubled Cyprus-based bitcoin savings and payment network, and three formal fraud charges have been filed against Brewster, law enforcement sources told the media outlet.
Police may also issue a European warrant for Brewster's arrest.
Trouble grows for Neo & Bee
Neo & Bee is at the center of a growing controversy after its CEO abruptly departed the country earlier this month, reportedly seeking investment to keep the company afloat. Brewster, however, indicated that he would not return following allegations that threats were targeted at his daughter.
The statements by Brewster followed allegations from two customers that they paid €15,000 and €20,000, respectively, for bitcoins they never received.
Problems for Neo & Bee first began when questions regarding the company's solvency were first raised earlier this month.
Neo & Bee's future uncertain
Neo & Bee first opened to a good deal of enthusiasm in the community, with some commentators hailing the opening of the bank-like company as a step forward for popular acceptance of digital currencies.
These problems worsened when tradeable shares for LMB Holdings, the company that owns Neo & Bee, plunged in value on the Havelock Investment exchange.
Brewster, whose exact location is unknown, has said in the past that he plans to sell his equity in the company. It remains unclear whether or not the arrest warrant will change the calculus of any sale of his stake.
Image via Neo & Bee
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
IMF Flags Stablecoins as Source of Risk to Emerging Markets, Experts Say We Aren't There Yet
The IMF warns that USD-pegged stablecoins could undermine local currencies in emerging markets by facilitating currency substitution and capital outflows.
What to know:
- The IMF warns that USD-pegged stablecoins could undermine local currencies in emerging markets by facilitating currency substitution and capital outflows.
- Despite concerns, experts argue that the stablecoin market is still too small to have a significant macroeconomic impact.
- Stablecoins are primarily used for crypto trading, and their market size remains small compared to global currency flows.
Top Stories
