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International enforcement action stopped an Organised Criminal Group and their crypto scam

According to Eurojust, the European Union Agency for Criminal Justice Cooperation, an international law enforcement action took action against an crypto scam promising returns of up to 35% on crypto investments. A big French private company and a French local authority are said to be among the 85 victims of this network. In total, 10 suspects related to the case have been arrested.

The international enforcement action including teams from France, Belgium, and Israel with the support of Eurojust and Europol has brought down a criminal network that committed large-scale international fraud with the sale of bitcoins and other crypto-currencies. Approximately 85 victims in France and Belgium were defrauded of EUR 6 million by an Organised Criminal Group (OCG) operating from Israel. In total, 10 suspects were arrested. The investigations unveiled further plans to commit fraud, which were not realized.

European Investigation Orders (EIOs) were issued to the authorities of Bulgaria, Hungary, the United Kingdom, Spain, the Czech Republic, and Portugal to help with the investigations. Four persons had been arrested in France in January 2019, and in cooperation with the authorities in Luxembourg, EUR 1 million were seized.

Eurojust assisted the French and Belgian authorities by setting up and financing a Joint Investigation Team (JIT) and organizing a coordination meeting. Europol participated in an international rogatory mission of French and Belgian magistrates to Israel. In close collaboration with the Israeli police, seven searches took place and five persons were interrogated.

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