Ten individuals have been taken into custody in the provinces of Valencia, Castellón, Madrid, Barcelona, Mallorca, Burgos, and Cadiz on suspicion of participating in an 86,350 euro scheme involving fraudulent financial investments in a global energy corporation. The victim, a woman, turned over the funds, which were obtained from two bank loans, her savings, and an additional loan from a family member.
According to a statement from the Guardia Civil, the investigation into this scheme started in April of last year after a complaint from the victim, a resident of San Vicente del Raspeig (Alicante), who claimed that the arrested individuals had posed as a well-known Spanish multinational energy company to carry out the scam.
The woman said in her lawsuit that she discovered a purported investment opportunity—the purchase of shares of a well-known Spanish international energy company—through an advertisement posted on a social network, which turned out to be fraudulent.
When he contacted the ads, they advised him to download an application from a purported investment platform and promised him large financial returns in return for investing different sums of money.
At first, the victim contributed a tiny amount of money. However, the con artists required more payments in order to purportedly release the monies when they attempted to withdraw their invested money.
The victim ultimately requested two loans from her bank and another from a relative, totalling 86,350 euros in fraud, as a consequence of several phone calls and pressure from various scheme participants.
The victim’s information, which included a bank account at an English-based organisation to which the money had been sent and many mobile phone numbers used to carry out the crimes, served as the basis for the police inquiry.
The suspects were arrested during an operation known as Crypto25 that started in the provinces of Valencia, Burgos, Cadiz, Castellon, Madrid, Mallorca, and Barcelona last November after a request was made for the judicial blocking of the bank account, the identification of the holders, and the payment methods used.
While the trial is being held, the arrested individuals have been placed at the court authority’s disposal, and their release has been ordered with precautions.
According to the news release, the Armed Institute advises avoiding financial decisions under duress, checking the legitimacy of the companies making the offer, and being cautious of ads that promise rapid or risk-free earnings.
Author: Derek Appleton
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