Is Forex fraud a margin? The broken group in Ukraine extorted EUR 10 million a month!

$ 1 million in cash, computers, real estate, and in their garages, among others Rolls Royce Phantom, BMW Z8, Lamborghini Aventador, Mercedes Maybach S560, Land Rover Range Rover, Audi Q5 and many other luxury toys. In fact Ukrainian police seized assets worth 50 million euros. This is how the organizers earn "Boiler room", i.e. places from which money is extorted from unaware investors.

This is the third wave of arrests in this case, but without a doubt the most spectacular. Until now, boiler rooms have been broken down, but the main organizers of the crime have not been arrested. Now there is a chance that this hydra's head has been cut off and it won't grow back soon. 

The last detentions took place in the city of Dnieper in Ukraine. The services have already found the third boss of a well-organized gang dealing with extorting money. According to estimates by Ukrainian investigators, as a result of criminal activities, they gained up to EUR 10 million a month. They managed to get really rich because they operated at least in 2017-2020. 

How money was extorted on Forex and cryptocurrencies

Criminals were involved in creating fake trading platforms, often confusingly resembling the websites of well-known brokers in the world. They also managed to create them on similar addresses, which often lulled the vigilance of potential victims.

The second important piece of the criminal puzzle was organizing the so-called "Boiler rooms", that is groups operating practically like a call center. They were created in Ukraine, but also in other nearby countries: Bulgaria and Serbia. It was from there that people were called mainly from the European Union, who were offered great investment programs, based on Forex market, cryptocurrencies, or trading stocks or metals. The interview scenario was different, depending on what the client was most interested in. 

The most important thing was to persuade him to pay even a test deposit of a small amount. The investor saw quick profits on his account, often up to 100 times. Many people began to pay additional amounts quickly, because criminals argued that the system had a limited capacity and if the appropriate amount was collected, it would not be possible to pay extra for it. It will only remain less attractive, not earning so much ...

As you can easily guess, everything was a fiction, and when the client wanted to withdraw funds, it turned out that he must first pay a commission fee, taxes, etc. Of course, he didn't get any money back.

There are residents among the deceived German, Austria, Great Britain, Switzerland, but also Poland.

Three bosses arrested, the fourth one is wanted

The third leader of the gang has just been arrested. It was supposed to organize groups operating in Belgrade, Sofia and Kiev. This is another arrested after being caught in May and June 2021. There is still a fourth criminal, wanted by an international arrest warrant, still at large. 

Mercedes, Lambo, villas with pools

The arrests of the "hurdle" and the bosses of the gang took place at the same time Ukrainein Serbia i Bulgaria. The action was coordinated by Europol. No wonder, because assets found in offices and homes can make you dizzy. 

The criminals had, inter alia, $ 1 million in cash, hundreds of computers and other equipment, telephones, but also records of interviews with victims and documents showing the path of the extortion money, extremely valuable for investigators. 

Officers also seized luxury properties, including villas and apartments with rooftop swimming pools. In the garages there were, among others, Lamborghini Aventador, Rolls Royce, Maybach, Mercedes S500, BMW Z8, Land Rover Range Rover and many other luxury toys. In total, the acquired assets were estimated at EUR 50 million.

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