A major investment fraud ring was dismantled by police in Germany and Cyprus, with four men aged 26-39 arrested. They allegedly swindled €10 million from investors.
The Scam
Posing as financial experts, the scammers offered lucrative investment deals, often tied to cryptocurrencies. Instead of investing funds, they used fake online platforms to trick victims into making more payments.
Fake Trading Platforms
The group operated at least 13 fake platforms, including Halder-Bay, Advancia, Avanchie, Bitdach, and Wega-Bay, since August 2022. They targeted German investors, with 170 filing charges.
Investigation
Raids were conducted in Berlin and Limassol, Cyprus, with Eurojust and Europol’s support. The complex case requires more investigation time.
Protect Yourself
Investment fraud is rising, costing victims millions. Stay vigilant:
– Research investment opportunities thoroughly.
– Verify financial experts’ credentials.
– Watch for suspicious online platforms.
Stay safe and informed!
Source: Viewers Corner News