Willie Breedt, a South African national accused of stealing up to $16.3 million from around 2,000 investors via his VaultAge Solutions scheme, has reportedly been forced into bankruptcy by a local court.
According to a recent report from News24, the sequestration order was initiated on July 3 by Simon Dix — one of VaultAge’s largest investors, who entrusted Breedt with 7.5 million South African rand, or $440,000.