French prosecutors assert that they have taken action against two cryptocurrency scammers who used “suitcases” full of bogus currency to trick investors into parting with more than tens of thousands of dollars’ worth of Bitcoin (BTC), USDC, and Ethereum (ETH).
France Blue claims that the two men used false names. Potential victims “of all nationalities” were allegedly persuaded to meet them at posh hotels or restaurants.
The two allegedly solicited cryptocurrency owners while posing as over-the-counter purchasers of cryptocurrencies with promises to buy their coins that appeared too good to be true.
The Bordeaux public prosecution office published the specifics of the arrests and the alleged offences. However, it appears that the investigation encompassed police officers from all throughout the nation and beyond.
According to the prosecution, the alleged con artists defrauded a victim at a meeting in Milan, Italy, in July 2019 and made off with more than $1.5 million in tokens. They appear to have stolen about $500,000 worth of cryptocurrency during meetings in Paris and Milan in 2020.
Officers searched homes connected to the two individuals. They said that the raids netted them about $61,000 in cash. “Two Porsche automobiles, a Bentley sedan, and a luxury watch believed to be valued roughly $53,000” were also seized.
Prosecutors claimed that by impressing their putative victims with what seemed to be a huge stockpile of cash in sumptuous settings, the con artists were able to win over their trust and get access to the men’s mobile phones.
The alleged con artists allegedly stole more money after employing sophisticated “manipulation” methods to “get the secret keys” to their cryptocurrency wallets.
Charges of organized fraud, money laundering, criminal association, forgery, and refusing to comply with a police investigation have landed these two suspects in pre-trial incarceration.
They also refused to reveal to investigators their mobile device passcodes, according to the media outlet.
Officers expanded their search around the Paris region after starting the inquiry in Gironde. It appears that the alleged con artists targeted wealthier victims. They appear to have been active in Megève, an Alpine ski resort that has grown to be well-liked by billionaires, and Cannes.