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GGF CEO?s Assets Seized to Pay Back Taxes

By soulxtc

Car and motorcycle confiscated to settle 780,000 kronor ($110,987 USD) in back taxes.

Reporting on Global Gaming Factory and it’s bid to acquire Swedish BitTorrent tracker site The Pirate Bay is getting more tedious by the day.

Today it felt noteworthy to add news that GGF CEO Hans Pandeya had some of his assets confiscated to satisfy the Swedish govt’s claim of more than 780,000 kronor ($110,987 USD) owed in back taxes if only to illustrate the shakiness of his finances as he tries to round up the 60 million SEK ($8.5 million USD) needed to fund the deal.

The fact that he lost both his motorcycle and a car to a tow truck at the behest of a court bailiff adds to the increasing sense that Pandeya’s bitten off more than he can chew and won’t be able to pull the whole thing off.

It certainly won’t make already shaky investors any more confident in his plans either.

The ever optimistic Pandeya, who promised the deal would go through last Thursday, says it will be finalized “within the next eight days” so I suppose we’ll see soon enough.

Stay tuned.

jared@zeropaid.com

Full post as published by ZeroPaid on August 31, 2009 (boomark / email).