Norwegian authorities have convicted four persons for their participation in a widespread fraud and money laundering operation, cheating thousands of victims in many countries.
Økokrim, Economic Offenses Unit of Norway, revealed More than 900 million chronner ($ 86-87 million) was funnized in the scheme, with more than 700 million Crohnger launched through a Norwegian law firm and transferred to accounts in Asia.
According to the indictment, the victims were drawn into the scam through a multi-level marketing structure. Recruitment by existing members, participants were persuaded to buy “product package” which included the company’s ownership cryptocurrency and shares.
He was presented as an attractive business investing in gas areas, mining and real estate.
“We believe this is a great and widespread fraud,” said state prosecutor Jokim Zisler Berj. “We are talking about a large number of victims in many countries who have lost their money, and significant amounts that have ended with the defendants.”
Investigators claim that no adequate investment was made and that the business had no revenue other than the deposits of new members – an identity of a Ponzi scheme.
The fund was allegedly looted through the complex layers of accounts before the top networks and early investors were distributed as “returns”.
Authorities also highlighted the role of professional facilities, such as lawyers and accountants in obeying the money trail.
The situation indicates that money laundering, especially the money laundering, will be investigated and prosecuted, whether the victims are located in the countries outside Norway, according to the waste.
The misuse of financial professionals to hide investment fraud and criminal income is increasing the concerns globally. Europeol has warned that financial offenses such as these are “engine of crime” and remain an important challenge for international law enforcement.
