Suspected investment fraudsters have apparently deprived people in Germany and several other European countries of 113 million euros. This was announced by the Thuringian State Criminal Police Office and the public prosecutor’s office in Erfurt.
On Tuesday, investigators carried out large-scale raids in Germany and several other countries, such as Austria, Switzerland and the Czech Republic. In the course of these raids, six suspects were arrested, among others.
According to the public prosecutor’s office and the State Criminal Police Office in Erfurt, the group is said to have defrauded private investors in Germany, Switzerland, Austria and Spain. On the Internet and through direct sales employees, they offered alleged investment products related to cryptocurrencies. According to investigators, they also advertised these products “with a return of 200 percent in three years that was actually not achievable.”
According to the current state of the investigation, however, the victims’ money was not invested at all, but was used by the suspects for their own purposes. The investigations have been ongoing for a year and were triggered by a tip-off from the Federal Financial Supervisory Authority.
