Long story short: guy figured out a way to make money: create an LLC, rent some warehouse space, order hardware, sell hardware, pay invoices, order some more hardware, sell hardware, pay invoices. This cycle repeats a couple of times with higher and higher order values and then finally when the orders are really large (millions) holds a clearance sale, pockets the money and defaults on the invoice. Boom, company bankrupt.

He did this several times before the corporate veil was pierced and they took him for all he had.

The other case was one that is probably best described as mismanagement ('onbehoorlijk bestuur') where the CEO/sole shareholder of a company started using the corporate account as though it was his personal account. When the company was unable to meet payroll taxes the taxman seized his private assets after piercing the veil.