A 24-year-old law student from the Netherlands is facing legal action after allegedly orchestrating a crypto trading scheme that resulted in significant financial losses for hundreds of investors.
The student, who marketed themselves as the "Crypto Banker," reportedly vanished last year when the scheme faltered, leaving investors with an estimated €4.5 million in losses.
Following the scheme's collapse, the student sought police protection due to harassment from investors. However, recent evidence presented by a victim-founded organization led to their arrest this week. This organization is actively working to recover the lost funds.
The student is accused of running a Ponzi-like operation, where returns to early investors were allegedly funded by investments from new participants. The minimum investment threshold was reportedly set at €5,000, with the student claiming a 50% share of the profits.
The investigation into this matter is ongoing.
Disclaimer: This post is for informational purposes only and does not constitute financial or legal advice.
