Another Crypto-related Ponzi Scheme Is Exposed In Spain

Another Ponzi scheme  estimated at $298 Million relating to crypto is filed before the National Court of Spain.

A group of investors represented by Emilia Zaballos filed a class action suit last March 17,2021 against Javier Biosca Rodríguez, his wife and older son for defrauding 300 small time investors across Spain.

The scheme offers 20% to 25% of weekly returns for investors where Biosca use it to acquire bitcoin (BTC), ethereum (ETH), and litecoin (LTC).

The scheme collapsed on November 2020 where investors no longer get their weekly returns.

This is the first crypto-related class action suit filed in the country and the amount of scammed money could cross the 3 billion euros ($3.58 billion).

#SmartCrypto