Spain detains alleged mastermind behind €260 million cryptocurrency Ponzi scheme

The Spanish Civil Guard has arrested the alleged leader of a massive Ponzi scheme involving €260 million. More than 3,000 victims were lured by false promises of high returns tied to various luxury dynamics and cryptocurrencies.

The investigation, which included Europol’s assistance, unveiled a sophisticated network of shell companies used for the scheme, extending across at least 10 different countries.

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