ZAP // Drypdesigns; Khakimullin / Depositphotos
Hundreds of people in Portugal were harmed in a pyramid scheme with cryptocurrencies. Scammers have profited R$2.148 million since 2018.
The Public Ministry (MP) accused a couple of crimes of qualified embezzlement and money laundering, in a cryptocurrency pyramid scheme.
The accusation, cited by , states that in 2018 the man and woman planned and launched a business model with a pyramid structure, using investment in crypto assets to entice victims. Hundreds of people ended up injured, worth more than 2.1 million euros.
The injured parties were led to attract new investors and depending on the plan that the new adhering investor acquired, the recruiter at the top of the network obtained points, which were converted into cryptoassets or money.
As JN details, the minimum investment was 149 euros and a maximum of 99,900 euros. Investors had a Promised profit of 4 to 7% per week.
They were assembled “trading robots” in physical stores in Aveiras de Cima, Coimbra and Alenquer, to attract investors. That machine would serve to boost investments in crypto assets. Robots were, after all, fake.
But “even if the existence of purchases and sales of cryptoactives is confirmed, transaction values were insufficient to satisfy the payment of investments contracted through the robot” – writes the MP.
The product created by the defendants is called Optionsknight and currently has a red alert from Banco de Portugal.
Those injured were also promised a leadership position. However, all money raised would end up in the accounts of the defendants.
As JN mentions, the MP now accuses the defendants of having taken advantage of lack of general knowledge about cryptocurrenciesto entice victims into their fraudulent pyramid scheme.
