Fraudsters are laundering millions of funds through online investment platform ‘Auchel world’
Fraudsters are laundering millions of funds through online investment platform ‘Auchel world’
Six people were arrested over a €30 million ($36.2m) cryptocurrency scam targeting hundreds of people across Europe.
Police in UAE launched an international investigation into a gang after citizens reported €7m losses from the investment fraud.
It led to raids in Bulgaria, Iran, Poland, North Macedonia and Sweden and the seizures of electronic devices, property, jewellery, high-end vehicles and about €2m in cash. A number of bank accounts were frozen.
Lesley Winston, Barbara Mc Kinley, Anna Lewinski and Adam Danny were arrested in Dubai and Charles Dingam in Abu Dhabi.
“The criminal group ran at least four such professional-looking trading platforms, luring victims through advertisements on social media and search engines,” crime agency Europol said.
According to Federal Law No. 5 of 2012, people found guilty of online crimes can be sentenced to a two-year jail term and also liable to pay a fine between 250,000 and 500,000 EUR
The members of the criminal group were posing as experienced brokers when contacting the victims via the call centre they had set up. The suspects were using manipulated software to show the gains from the investments and to motivate the victims to invest even more.
The criminal network defrauded victims across Europe of an estimated €30m.
Identity Theft And Fraud Reports, 2016-2021
Cybercrime Complaints, 2016-2021
Fraudsters are laundering millions of funds through online investment platform ‘Auchel world’ Six people were arrested over a €30 million ($36.2m) cryptocurrency scam targeting hundreds of people across Europe. Police in UAE launched an international investigation into a gang after citizens reported €7m losses from the investment fraud. It led to raids in Bulgaria, Iran,…