A joint investigation by European law enforcement agencies, supported by Europol and Eurojust , has dismantled a large criminal network involved in investment fraud and money laundering . The operation, led by Germany, involved authorities from Bulgaria, Israel, Latvia, North Macedonia, Poland, Spain and Sweden . The criminal network caused losses of around €30 million to hundreds of victims, with losses in Germany alone amounting to at least €7 million
Read also: Europol: Dismantled Greek gang that defrauded US banks!
Authorities arrested 11 people (5 in Bulgaria, 1 in Israel and 5 in Spain) and searched 12 locations in Bulgaria, Israel, Poland, North Macedonia and Sweden. They seized numerous electronic devices, real estate, jewelry, vehicles and approximately 2 million euros in cash, while froze numerous bank accounts controlled or owned by shell companies based in various European Union countries and used to launder proceeds from illegal activities.
See also: Ireland: Europol pursues family for €4 million "laundering"
The fraudsters created at least four online trading platforms that offered significant returns on cryptocurrency investments and high-risk options to potential investors. The criminal network published advertisements for the trading platforms on various social media platforms and search engines.
Proposal: Europol: "Unlocks" the encrypted Sky ECC app to arrest criminals - Sky ECC denies it!
The press release issued by Europol states the following: “The criminal network created several online trading platforms that advertised significant profits from investments in high-risk options and cryptocurrencies. The criminal gang “ran” at least four of these seemingly professional platforms, which attracted victims through advertisements on social media and search engines. Members of the criminal gang presented themselves as experienced brokers when communicating with victims through the call center they had set up. The suspects used counterfeit software to show the profits from the investments and to induce the victims to invest even more.”
According to the press release, 300 complaints were filed in Spain.
Information source: securityaffairs.co
