Greek Soldiers Suspected of Involvement in $8 Million Cryptocurrency Pyramid Scheme
According to Decrypt, Greek prosecutors allege that a cryptocurrency Ponzi scheme defrauded around 10,000 investors of approximately $8 million. Nine suspects, including two Greek soldiers, were questioned by an investigating judge on Monday. Police have arrested 17 people in connection with the case, saying the group operated as a Ponzi scheme and used a platform it controlled to encourage investors to invest in cryptocurrency. The allegations have yet to be heard in court, and the figures come from police rather than an indictment. The report says the group recruited participants through a local civic association. A 44-year-old man who heads the Katerini Association of AI Enthusiasts has been remanded in custody, while six others were released under restrictions on bail of €15,000 to €20,000. Investors were encouraged to put in at least €800, while VIP investors were asked to invest €5,000, with both groups promised their money would double. In Katerini alone, investigators estimate that the group recruited 1,842 members and collected around €2 million.
According to Decrypt, Greek prosecutors allege that a cryptocurrency Ponzi scheme defrauded around 10,000 investors of approximately $8 million. Nine suspects, including two Greek soldiers, were questioned by an investigating judge on Monday. Police have arrested 17 people in connection with the case, saying the group operated as a Ponzi scheme and used a platform it controlled to encourage investors to invest in cryptocurrency. The allegations have yet to be heard in court, and the figures come from police rather than an indictment. The report says the group recruited participants through a local civic association. A 44-year-old man who heads the Katerini Association of AI Enthusiasts has been remanded in custody, while six others were released under restrictions on bail of €15,000 to €20,000. Investors were encouraged to put in at least €800, while VIP investors were asked to invest €5,000, with both groups promised their money would double. In Katerini alone, investigators estimate that the group recruited 1,842 members and collected around €2 million.