The National Police of Ukraine reported the uncovering of a network of fraudulent call centers that defrauded over 4.3 million euros from 135 German citizens under the guise of investments in cryptocurrencies and financial instruments. The operation, named Trade, was conducted in collaboration with German law enforcement agencies.
Methods of the Fraudsters
The perpetrators posed as brokers and financial consultants, promising lucrative investments in cryptocurrencies, stocks, and other assets. To execute their schemes, they employed:
- fake trading platforms;
- phone calls;
- messengers for communication with victims.
This approach allowed the fraudsters to deceive trusting investors who hoped for profits from their investments.
Operation and Arrests
As part of the Trade operation, 17 searches were conducted in Kyiv and the surrounding region, during which law enforcement seized:
- cash amounting to nearly 600 thousand hryvnias;
- over 90 thousand US dollars;
- cryptowallets, phones, and computer equipment.
As a result, four members of the criminal organization were arrested, including the organizer and three executors. Another suspect has been notified of suspicion.
Legal Consequences
The arrested individuals face up to 12 years in prison with asset confiscation. The investigation is ongoing, and law enforcement continues to work on identifying other potential participants in this criminal scheme.