Bitcoins, threats and a suicide: The mystery case of the biggest cryptocurrency scam in Spain

invest some money money and reproduce endlessly without doing anything. This is the promise of the businessman. Javier Biosca Rodriguez Over the years it has captured thousands of customers, a promise that evaporated when it succeeded in earning the trust and money of others, crystallized in its presumed largest. fake with cryptocurrencies from Spain. Last Tuesday, Biosca was found dead in the town of Estepona, Málaga. According to the police, he fell from the fifth floor.

Biosca ended his life, but not for a complicated case with more unknowns than answers. An investigation has been launched against this 50-year-old businessman national audience As the alleged ringleader of a conspiracy that defrauded at least 250 million euros from up to 3,000 customers by investing in cryptocurrencies. Justice accused him of fraud, embezzlement. money launderinglie in public document, criminal organization and bribery, among others Crimes.

lawyer representing 300 victims, Emilia Zaballosdescribed Biosca as a “sociopath with charisma and the ability to persuade” who uses his tricks to seduce and attract “the needy and the people affected by the pandemic” to whom he sells solutions to their problems. “Excellent profile of the scammer,” the president of the Association of People Affected by Cryptocurrency Investments also said in a podcast.

family crime group

According to the judge’s complaint, Biosca started criminal activities in Fuensalida, a small municipality 30 kilometers northwest of Toledo. It was in 2019, he was his wife pigeon gallardo and his son javier biosca created Algorithm Groupis a London-based cryptocurrency investment firm. Although Biosca “doesn’t have any authority” and is not registered with the National Securities Market Commission (CNMV), Biosca has used this firm to persuade people of all kinds to invest their money in acquiring popular digital assets such as: bitcoins, ethereum anyone litecoin. To do this, he promised them 20 to 25% beefy returns per week, a siren song that seduced many.

In the first months, Biosca and his team delivered on their promise. The return of these high rents served to gain the trust of the winners. investors. After achieving this high profitability, Biosca contacted investors and gave them the opportunity to keep the money raised or reinvest it to earn more. Most chose the second option.

Believing they had found a bargain, they advised “relatives and friends” to invest in the conspiracy, and word of mouth spread that blind trust like a disease, multiplying its reach. Following everyone’s guide step by step ponzi schemeThus, Biosca succeeded in creating a branched communication and investment network. It had close to 500 clients the first year, but the scam convinced about 3,000 clients, most of them small investors.

Complaints of the affected

At the beginning of 2020, everything began to change, as those affected denounced. Promises of high profitability began to be diluted until they were reduced to between 8% and 10%. In October, the plot stopped paying investors what it guaranteed. Biosca’s whereabouts were soon unknown.

Outraged by what happened, in March last year, an affected group of 300 people filed a macro complaint with the National Court, which was the first class action lawsuit for a cryptocurrency-related crime, announcing that they had been defrauded. The expert report concluded that Biosca and his family had a total of 1,532.55 bitcoins in their ‘wallet’ (digital wallet), which was then equivalent to around 75 million euros.

The National Court agreed to process the complaint and commissioned the Central Economic Crime Brigade and the National Police Forensic Police Prosecutor to initiate an investigation. Research. In June, the judge investigating the case, Santiago Pedrazissued an international search and arrest warrant for Biosca. Shortly after, he was arrested at a routine barricade in Nerja (Málaga) by the Civil Guard.

Biosca remained in prison until last October. He was later released after placing a one million euro bail set by the investigator. Alejandro Abaskal. The prosecution wanted to investigate the source of that money. Biosca was banned from leaving Spain and had to appear in court. court every 15 days. your guarantor, Juan Antonio Zuloaga Bilbaomissing, which must be brought before the court.

According to his lawyer, Biosca fell from the fifth floor last Tuesday in the presence of numerous witnesses; It’s a hypothesis that the police also lean on. However, the victims of the alleged scam were not listened to and requested an autopsy of the body to confirm that it was the person who escaped with their money. “It is known to accumulate. threats They ask, “Mr Biosca bought from criminal organizations that would invest in him, so these death facts need to be investigated.”

Source: Informacion

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