The Spanish Civil Guard has apprehended a man suspected of orchestrating a €260 million Ponzi scheme linked to cryptocurrencies. The scheme, known as "Madeira Invest Club," allegedly defrauded over 3,000 investors by promising guaranteed returns on investments in digital art, luxury vehicles, whiskey, real estate, and cryptocurrencies.
The investigation, conducted in collaboration with Europol and other international law enforcement agencies, revealed a sophisticated network of shell companies and bank accounts across at least 10 countries. This arrest marks a significant step in dismantling the international scam that has affected thousands of victims worldwide.
Spain Arrests Leader of €260 Million Crypto Ponzi Scheme
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