A 24-year-old Dutch law student became the target of a police hunt 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 plan collapsed, resulting in losses of up to 4.5 million euros (4.6 million dollars) for approximately 300 people, including friends and family. RTV Oost reported that the individual went into hiding after investors began to harass him. He subsequently filed a police report and was relocated to a secure location in the country after consultation.
Read more: Did Finnish police seize Richard Heart’s Rolex watch?
However, after his arrest on Monday, further evidence was submitted by a foundation established by self-funding investors aimed at uncovering what happened to the lost funds. According to one victim, despite the scheme being on the verge of collapse, the accused scammer continued to attract new investors.
Investors in the Dutch cryptocurrency scheme were reportedly compelled to invest a minimum fee of 5,000 euros (5,146 dollars), from which he would take 50% of any profits as his reward. He earned the title of “crypto genius,” but lawyers claim his enterprise was a blatant cryptocurrency pyramid scheme, where he paid off older investors with funds taken from newcomers.
Got a tip? Email us or ProtonMail. For more information, follow us on; Ten; a photo-sharing app; Blue Sky, and; Google News, or subscribe to our; YouTube; channel.
