arbistar

Arbistar victims waited six years. The ringleader was sentenced to 16 years, but the money still hasn’t been recovered—that’s the most heartbreaking part of this latest development in the old case.
In September 2020, Arbistar suddenly froze investors’ accounts, claiming its automated trading bot had “malfunctioned.” Before that, it had promised returns of around 28% per week. Spanish authorities later classified it as a Ponzi scheme. It had as many as 32,000 victims across Spain’s 30 provinces, as well as Mexico, Venezuela, France, and Andorra. Early estimates put losses at between $111 million and $220 million. In 2020, Spanish prosecutors also said that around $1 billion in investor funds could not be accounted for.