A 24-year-old Dutch law student became the target of a police manhunt last year and was arrested this week after submitting further evidence related to his alleged multi-million euro cryptocurrency scheme.
The self-proclaimed cryptocurrency banker from Hengelo, Netherlands, vanished last year when his cryptocurrency trading scheme collapsed, resulting in losses of up to 4.5 million euros (4.6 million dollars) for approximately 300 investors, including friends and family. RTV Oost reported that the individual went into hiding after being harassed by investors. He subsequently filed a police report and was moved to a secure location in the country after consultations.
However, following his arrest on Monday, further evidence was submitted by a foundation established by self-funded investors aimed at uncovering what happened to the lost funds. According to one victim, despite the scheme nearing collapse, the accused fraudster continued to attract new investors.
Investors in the Dutch cryptocurrency scheme were reportedly forced to hand over a minimum fee of 5,000 euros (5,146 dollars) to invest, with the accused taking 50% of any profits as his reward. He earned the title of “crypto genius,” but lawyers have claimed that his enterprise was an obvious cryptocurrency pyramid scheme, wherein he repaid older investors with funds taken from newcomers.
Have news? Email us or ProtonMail. For more information, follow us on; Ten; a photo-sharing app; Blue Sky, as well as; Google News, or subscribe to our; YouTube channel.
