Crypto Scam: Spanish Authorities Bust International Criminal Organization That Swindled Over $110M
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Loading... - Manuel Gomez
- 27 Apr 2023
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Spanish police arrested a Balearic Islands resident on suspicion of involvement in the crypto scam
Spanish authorities launched Operation Mandoa to investigate a widespread crypto scam that victimized its citizens
People in Azerbaijan, Georgia, Ukraine, Russia, and Israel received funds from the operation
The Spanish police have reportedly torn down an international criminal group that aggressively marketed a massive crypto scam and stole hundreds of millions of dollars from unsuspecting victims by luring them to invest in cryptocurrencies that never existed.
On Monday, Guardia Civil, the oldest law enforcement agency in Spain, arrested a resident of the Balearic Islands, an archipelago outside of eastern Spain, for allegedly scamming crypto investors in various countries.
The special investigation, dubbed "Operation Mandoa," kicked off after the police received a complaint from a person in the province of Alava, claiming they had been conned in a crypto fraud, the Guardia Civil said in a press release.
The special operation, which covered the Balearic Islands and the Basque Country, found the fraudulent firm operating in Palma de Mallorca and reportedly moving the loot from the scam to countries outside the European Union, Spanish authorities also discovered that multiple people in Azerbaijan, Georgia, Ukraine, Russia, and Israel received funds from the alleged crypto scam operation. Read More…
