Police Crackdown on €50 Million Spanish Virtual Currency Ponzi Scheme 'Unete'
Spanish national police have arrested 20 people involved in massive Ponzi scheme, Unetenet. The investment company has reportedly swindled 50,000 investors out of €50 million, according to major national news outlet El Pais. Unetenet, an alleged alternative investment firm, promised affiliates annual ROIs of over 350% paid in the company's homemade virtual currency, 'unete.' "I have 8,000 unetes that I cannot convert to euros," Carmen Ramírez, a pensioner from Córdoba and a victim of the scheme, told the news service. "José Manuel told us he was setting up a unete bank, and we believed....
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Spanish police have arrested 20 individuals in connection with a pyramid scheme that used a fake digital currency called the unete to attract unwitting investors. The Spanish National Police Corp announced the arrests on 16th July, which took place in Madrid and other parts of the country. Police estimate that the scheme resulted in as much as €50m in losses, ensnaring roughly 50,000 victims worldwide - with 6,000 in Spain alone. Spanish police seized over €5m and approximately $22m from related bank accounts. Two luxury cars and 18 computers were also taken into custody. According to....
The Spanish police detained four people of different nationalities this week for allegedly running a $15 million crypto Ponzi scheme. According to the police, “many victims” filed a complaint against them. Victims Believed Their Bitcoins Went to a Legit Company According to Policia Nacional, the four accused are Argentine, Spanish, and Italian nationals aged between 23 and 36. They persuaded the victims to transfer their bitcoin (BTC) to them by promising high returns. The authorities say that around 380 BTC were scammed by the alleged fraudsters, which amount to approximately....
Police in Thailand have raided 13 rooms in a Bangkok apartment complex in connection with an alleged Ponzi scheme called UFUN that may have promoted a fraudulent type of digital currency. The raid, reported by local source The Star, follows a number of searches and arrests across the Asia-Pacific region as part of a crackdown on UFUN led by Thailand's assistant police chief Suwira Songmetta. The group's controversial business model focuses on UToken, a so-called bitcoin rival that UFUN claimed was backed by a
Three companies allegedly running a large-scale cryptocurrency Ponzi scheme are being investigated by Indian police. The scheme promises extraordinary returns to investors. The police have registered a case against the alleged CEO of the companies. Large-Scale Indian Crypto Ponzi Scheme Indian police are reportedly investigating three Bengaluru-based companies over a cryptocurrency investment scheme that has lured investors from all over India. The companies are Long Reach Global, Long Reach Technologies, and Morris Trading Solutions. They are allegedly connected to “a multi-crore....
A Spanish court has remanded in custody the alleged operators of a pyramid scheme that used a fake digital currency called 'unete'. Temporary imprisonment pre-trial is typically set as a precaution to avoid defendants from fleeing or destroying necessary evidence during a case. The court documents, dated 21st October, state that Jose Manuel Ramirez Marco and Maria del Pilar Otero Sanchez are both suspected of fraud, participating in a criminal organisation and money laundering. Spanish police first arrested 20 individuals in connection to the pyramid scheme in July, estimating that 50,000....