cryptojournalist
A large fraud trial has started in France, involving over 850 victims who lost money in fake cryptocurrency and diamond investments. The trial is being held in a conference center and is expected to last four weeks to accommodate all the victims.
The defendants, aged between 28 and 73, allegedly operated fraudulent websites from 2016 to 2018, luring people with promises of high returns on diamond and crypto investments. Many victims, believing these promises, suffered serious financial losses, with some even taking loans to invest.
A law firm representing 100 victims said one person lost €400,000 in a “diamond savings plan.” Investigators discovered that the accused had set up 199 bank accounts across 19 countries to hide the stolen money. Authorities have recovered around €2.8 million, which might be used to help the victims.
The scheme didn’t just target individuals. Fraudsters also scammed football clubs by posing as agents for professional players. Clubs like Sochaux, Angers, and Toulouse were tricked into sending player salaries to fake accounts, losing around €60,000 in total.
