Suspect arrested in cryptocurrency scam and money laundering investigation

crypto wallets

Searches have been carried out in both Purmerend and Assendelft. During the searches, digital data carriers and crypto wallets were seized. In addition, a car, jewelry, watch, designer clothes and shoes, all from the expensive segment. A weapon was also found with which the suspicion has been extended to the illegal possession of weapons and ammunition. The investigation is led by the Functional Public Prosecutor’s Office of the Public Prosecution Service.

Kind of pyramid scheme

It was a so-called Ponzi fraud, a kind of pyramid scheme. The suspect pretended to invest the money deposited by victims in cryptocurrency and achieved a high return. As soon as customers asked to pay out, the payment was made with freshly raised investment money. Meanwhile, the suspect made large private expenses with the money deposited by victims. In this way, an increasing debt burden was built up, which ultimately led to the inability to pay out the invested capital. It is suspected that the suspect used the money deposited mainly for private expenses and spent it at luxury shops, restaurants and hotels.

Ponzi fraud from 2018

Defendant did not do this for the first time. He also had to appear today at the multiple criminal chamber of the court in Amsterdam for an even larger Ponzi fraud from 2018, in which victims had invested no less than six million euros and the suspect flew around in private jets with the money invested.


The Public Prosecution Service demanded an unconditional prison sentence of 3 years, of which 1 year was conditional and a professional ban of 5 years against him. The officer also requested the detention of the suspect and requests the court to decide on this by Friday at the latest. “I am making this claim because I see an urgent interest in this, both for society and for the suspect himself,” said the officer. Imprisonment means that the suspect must serve his sentence immediately after the verdict, even if he appeals. Due to the quick action of the FIOD and the Functional Public Prosecutor’s Office, the disadvantage of victims in the new case has been limited.

Suspect arrested in cryptocurrency scam and money laundering investigation
Source link Suspect arrested in cryptocurrency scam and money laundering investigation

Back to top button