Company trying to buy Pirate Bay shares suspended

Global Gaming Factory's Hans Pandeya allegedly in financial trouble

The Global Gaming Factory, the Swedish company which is trying to acquire torrent sharing site The Pirate Bay later this month, has had its shares suspended.

The suspension came this afternoon (August 21) after company boss Hans Pandeya was reported to the Swedish enforcement service by former company board member Johan Sellström, who claims he owes him around £508,000, reports

Pandeya had claimed that the Global Gaming Factory would acquire The Pirate Bay on August 27 and turn it into a legal downloading site. The possibility of the sale arose after four men involved with setting up the service were given one-year jail sentences for copyright infringement crimes.

Sellström is considering suing Pandeya, who in addition reportedly owes £67,000 in tax debt.

The news isn’t the first blow for the company with regards to its proposed acquisition. In July Wayne Rosso, a former adviser to the Global Gaming Factory, expressed doubts about the company’s financial stability, adding that there were “issues regarding Mr Pandeya‘s credibility”.