Pyramid scheme cryptocurrency scam in Katerini: Three remanded in custody and 81 complaints
Two alleged leaders of the cryptocurrency organisation were remanded in custody, with complaints reaching 81 and the damages amounting to €160,000.
Remand in custody for two alleged leaders of pyramid cryptocurrency fraud
Two alleged leaders of the organisation established around a pyramid scheme involving cryptocurrency were remanded in custody, according to ERT. Together with the cell leader from Katerini, who had already been detained, the total number of remands in custody for the case now stands at three.
The investigation of nine further defendants in the case was completed after 12 hours. The case had been uncovered by Katerini police the previous Thursday.
Another 11 defendants were released on bail ranging from €15,000 to €20,000, one with €3,000, whilst three were released only with restrictive conditions — a ban on leaving the country and an obligation to report to the police station.
The two alleged leaders denied the charges during the investigation, arguing that the platform was operating lawfully and that one of them had only undertaken the responsibility that fell to him. They also claimed that they themselves had been victims, as they had invested money in the scheme.
The number of victims is rising at a rapid pace. Whilst the initial indictment recorded 18 complaints with a total loss of €55,000, two days later the complaints have reached 81, with the amount of damages amounting to €160,000.
A key date for the case was 1 September, when the "tap" of returns to investors was closed, thereby revealing the fraud. The money of the participants was deposited in cash — hand to hand.
A key tool for spreading the fraud was an association founded in Katerini and Larissa and subsequently expanded throughout Greece via this same network.
Source: ERT