Fraudsters involved in investment scams have been apprehended, with authorities reporting six arrests and securing 113 million euros.
A group of private investors across Germany, Switzerland, Austria, and Spain are accused of defrauding individuals, according to the prosecution and Criminal Investigation Office in Erfurt. They reportedly promised high returns on crypto-related investment products via the internet and through employees in direct sales. The enticing offer of a "realistic" 200% return in three years allegedly attracted investigators.
However, it's said that the suspects didn't actually invest the victims' money, but rather used it for personal gain. The investigations have lasted for a year, starting after a tip got sent to the Federal Financial Supervisory Authority.
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The public prosecutor's office in Erfurt has been actively involved in the case, working alongside other authorities in Germany, Switzerland, Austria, and the Czech Republic. These authorities have made six arrests related to the investment fraud scheme. The alleged investment fraudsters used the LKA, the Criminal Investigation Office in Erfurt, as a target of their deception, promising high returns. The Swiss authorities also played a role in the arrests and asset recovery process. Despite promises of a "realistic" 200% return in three years, it's been alleged that the suspects used the victims' money for personal gain rather than investing it. Authorities in Spain have also been involved in the investigation, seizing assets and evidence. The total amount recovered from the 113 million euros fraud is expected to be distributed among the victims. The authorities are encouraging anyone who may have been affected by this investment fraud to report it to their local authorities or the 113 emergency number in the Czech Republic.
