Breaking News: Co-Founder of Cryptocurrency Company Sued by SEC Kidnapped and $400 Million Stolen

In a breaking development, the co-founder of Debt Box, a crypto company sued by the SEC, was kidnapped and more than $400 million was stolen.

The company’s co-founder and partner, Jason Anderson, was allegedly kidnapped and forced to give up control of his company, Debt Box, and approximately $400 million in assets. The shocking allegations were revealed in a police report filed in Utah by Anderson’s brother and later obtained by Fortune.

Anderson had travelled to Dubai for a business meeting but was allegedly kidnapped by two business partners as he tried to leave the country. Under what his brother described as mental “torture”, Anderson was forced to hand over Debt Box and around $400 million in assets. He was also made to admit that he owed another $90 million to “people” in Dubai.

According to his brother, Anderson was driven four hours away and locked in a locked hotel room. Business partners Schad Brannon and Roydon Nelson allegedly “mentally tortured” him for two weeks until he agreed to their demands. Anderson managed to send a message to his brother via an internet-enabled TV remote control, but he could not leave the country because he did not have a passport.

Another business associate, who spoke to Fortune on condition of anonymity due to the ongoing legal case, said Jacob Anderson continues to insist that his brother has been kidnapped and the money has been frozen. This has become a bone of contention between the defendants. Jacob Anderson also contacted the US embassy in Abu Dhabi with similar details, according to an email seen by Fortune, saying that his brother was meeting with members of the “Royal Family.”

*This is not investment advice.