Belgian Police Bust Gang Behind Global Ponzi Scheme — Scam Guards

Law360, London (June 25, 2021, 4:05 PM BST) — Belgian federal police detained five suspects and seized cash and crypto-assets when they shut down an investment Ponzi scheme believed to have conned 223,000 people in almost 180 countries, Europe’s law enforcement agency has said.

Europol said that police carried out house searches in 17 locations, including Antwerp and the provinces of West Flanders and Limburg. Officers confiscated 17 luxury cars, €1.1 million ($1.3 million) in cash and €1.5 million in cryptocurrencies, the agency said.

“The members of this organized crime group are, for the most part, Belgian nationals who were making use of a company under Swiss jurisdiction,” Europol said on Thursday. The…

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