Creditors of cryptocurrency platform Cred Inc. called for the arrest of a former executive identified in court papers as a U.K. fugitive, arguing he should do jail time unless he returns the bitcoin and other assets he allegedly took from the bankrupt company, WSJ Pro Bankruptcy reported. A committee of unsecured creditors on Monday petitioned the U.S. Bankruptcy Court in Wilmington, Del. to hold James Alexander, Cred’s former chief capital officer, in civil contempt for violating an earlier bankruptcy court directive and to issue a warrant for his arrest. Cred and its unsecured creditors, which include cryptocurrency holders, have alleged during the bankruptcy that Mr. Alexander misappropriated at least 225 bitcoin, now valued at roughly $12 million, while he worked at the company. Alexander has returned roughly 50 bitcoin and $2.8 million in proceeds from liquidated bitcoin, according to the findings of an independent, court-appointed examiner last week.
