Participants in a pseudo-investment scheme that caused millions in losses are to stand trial in Odessa
Cyber police officers from the Odesa region, working alongside regional police investigators under the procedural supervision of the Odesa Regional Prosecutor’s Office, have documented the activities of a criminal gang that defrauded people of money under the guise of investments in cryptocurrency and advertising.
According to the investigation, the criminals created fake websites with so-called personal accounts, where users could see supposed returns on their investments. In reality, all funds were transferred to the crypto wallets of those involved in the scheme. Once significant sums had been accumulated, contact with the victims was severed.
Law enforcement established that nine individuals were involved in the group’s activities, with assigned roles including an organiser, managers, IT specialists and operators.
The investigation proved the suspects’ involvement in eight instances of fraud targeting foreign and Ukrainian investors. The total amount of losses amounts to 5 million 752 thousand hryvnias.
The pre-trial investigation has been completed. Nine participants are charged with fraud. Eight have also faced additional charges for establishing and participating in a criminal organisation, and three for the legalisation of property obtained by criminal means.
The penalties under these articles provide for up to 12 years’ imprisonment with confiscation of property.
