Marbella Police Uncover Million-Euro Cryptocurrency Fraud
In a recent development, the National Police in Marbella have exposed a cryptocurrency fraud amounting to over a million euros. The scam has reportedly affected five Swedish individuals. The police have arrested a man on charges of fraud and document forgery. The accused allegedly claimed to possess a license to operate in the cryptocurrency market.
Exclusive Control Over Cryptocurrency Wallet
The accused had complete control over the cryptocurrency “wallet” and was the sole operator. The term “wallet” is used to denote a key number that the account holder uses to purchase cryptocurrencies via a device known as a “ledger”. The victims were tricked into transferring funds to a Spanish bank for the purchase of cryptocurrencies through the alleged agent.
Seizure of Incriminating Evidence
During a search at the accused’s residence, the police seized documentation related to the illegal activity. This included laptops, electronic tablets, three mobile phones, a hard disk, external memory, a card printer, card holders, and a compressed air pistol. Luxury brand clothing and accessories were also found, indicating the accused’s high standard of living.
Swedish Nationals Fall Victim to Scam
The operation was initiated after five Swedish nationals filed a complaint, alleging they were victims of a cryptocurrency scam. They had reportedly invested close to a million euros, a sum they have not been able to recover. The victims had contacted a Marbella resident to invest in cryptocurrencies, only to discover later that it was a scam.
Identification and Arrest of the Accused
Based on the complaints and subsequent investigations, the police were able to identify the alleged fraudster, a man living in a luxury marina in Marbella. The accused had allegedly convinced his victims to let him manage their cryptocurrency investments, claiming he had a license to operate in this market. He was arrested in Marbella once he was located.
Seizure of Fraud-Related Documentation
During the search, investigators seized diaries with notes on cryptocurrency trading, exchange applications, guidelines on establishing contact with victims, and documents with a fictitious identity. The most significant find was a card printer worth over 5,000 euros, along with dozens of magnetic card holders, white identity card holders, and security holograms. These were used to create false documentation.
Investigation Continues to Trace Defrauded Money
The operation is still ongoing to locate the defrauded money and gather more evidence of the accused’s illegal activities. A bank account has been blocked by order of the judicial authority.