Europol, Spanish Police Bust Alleged Scam Posing as Crypto Investment Training Firm

Europol worked with Spain’s Civil Guard and Catalan police to arrest six suspects aged in connection with the scheme.

AccessTimeIconJan 28, 2021 at 2:17 p.m. UTC
Updated Sep 14, 2021 at 11:02 a.m. UTC

Crime-fighting agency Europol and Spanish law enforcement say they have busted an allegedly fraudulent scheme posing as an Andorran firm that specialized in cryptocurrency and foreign exchange investment training.

  • Europol said Thursday it worked with Spain’s Civil Guard and Catalan police to arrest six suspects aged between 20 and 34 years in connection with the scheme.
  • Authorities searched two houses and seized an estimated €70,000 (US$84,716) in fiat currency and cryptocurrencies including bitcoin, ethereum, XRP and omisego, as well as eight vehicles and electronic devices.
  • “The nabbed suspects allegedly defrauded thousands of clients via an investment training company,” said the Europol report.
  • It is suspected that the scheme was working internationally.


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