Police forces have successfully dismantled a major investment fraud network responsible for defrauding victims across Europe out of an estimated €10 million. The sophisticated criminal operation lured individuals into believing they were investing in promising online platforms dealing with financial instruments like crypto-assets, forex, and stocks.
The fraudsters operated through numerous fake websites, employing high-pressure sales tactics and using boiler room call centers to convince victims to deposit significant sums. Initially, small returns might have been shown to build trust, but ultimately, the money was siphoned away, and the victims were unable to retrieve their funds or contact the perpetrators.
The extensive international investigation, coordinated across multiple European countries, centered heavily on activities traced back to Spain. The action involved numerous house searches, the dismantling of communication infrastructure, and the seizure of various assets, including vehicles, electronic devices, and cryptocurrencies. Several key individuals suspected of being part of this illicit network were also arrested. This operation marks a significant step in combating the rising threat of online investment scams that cause devastating financial losses to unsuspecting individuals worldwide.
Source: https://www.bleepingcomputer.com/news/legal/police-dismantles-investment-fraud-ring-stealing-10-million/
