MIt took the Civil Guard for half a year to arrest in Valencia one of the biggest scammers with false investments in cryptocurrencies at European level. He is a 45-year-old citizen with Portuguese nationality, who is charged with seven crimes of fraud and money laundering. Since August, the Civil Guard has been pursuing these criminal activities in the framework of the Bitdrop operation.
The detainee had created an alleged cryptocurrency investment platform on a website, which was made known through various forums, radio programs, sporting events and even charitable movements, in order to attract the attention and investment of numerous people in Spain and Portugal.
The platform offered a minimum return of 2.5% per week investors based on the amount they contributed, eventually acquiring roles and thus being able to attract other investors.
The “ponzi scheme” method
This method is known as a “ponzi scheme”. Is about a type of scam that tries to mislead the injured parties, who believe that the profits obtained come from a legal activity, although the funds originate from other deceived investors.
In this way, the investment in cryptocurrencies was a success, so the victims invest greater amounts of money and attract more investors. The investments made by the victims were used by the detainee to lead a high standard of living by buying high-end vehicles, trips or even meals.
As a result of the investigations of the agents, it was possible to identify several victims in Spain. In addition, it was discovered that the detainee had succeeded in committing a crime in Luxembourg, Switzerland and Portugal.
Finally, on December 2, 3 entries and registrations were carried out: at the residence of the detainee, at the company’s headquarters and a workshop where part of the assets were hidden.
In addition, several bank accounts and the platform’s access web pages and the pages where it was advertised have been blocked. Also, various documents as well as electronic devices were seized: computers, tablets, mobile phones and USB cryptocurrency wallets.
13 high-end vehicles
Equally, 13 vehicles have been blocked and another 7 intervened, all of them high-end. Audi R8, a Bentley Continental or a Maserati Quattroporte. The total of the blocked assets, between vehicles and bank accounts, amounts to more than two and a half million euros.