Dutch Executives Arrested in Istanbul for Involvement in $4 Billion Cryptocurrency Scam

In a significant crackdown on cryptocurrency fraud, Turkish authorities have arrested two executives of the controversial crypto platform OmegaPro, which is under investigation for orchestrating a massive billion-dollar scam. Dutch managing director Robert V. was apprehended in Istanbul on Tuesday, following the earlier arrest of Swedish co-founder Andreas S. in July, as reported by the Telegraaf.

Founded in 2018, OmegaPro quickly gained notoriety, registering in the Caribbean and establishing its headquarters in Dubai. The platform claimed to have generated an astonishing $4 billion in profits in a remarkably short time, attracting thousands of investors with promises of exorbitant returns.

OmegaPro's business model was centered around enticing investors with the lure of returns as high as "300 percent over a maximum period of 16 months." This aggressive marketing strategy led to significant investments from individuals eager to capitalize on the seemingly lucrative opportunity.

The investigation into OmegaPro intensified in February when the French public prosecutor's office initiated a probe into the platform's questionable trading practices. Reports indicate that approximately 2,000 victims in France have lodged complaints regarding fraud and deceptive business practices linked to an organized criminal group.

In a recent operation, Turkish police seized the suspects' computers, mobile devices, and 32 cryptocurrency wallets, uncovering transactions exceeding 160 million euros. This evidence suggests a complex web of fraudulent activities.

Authorities in Turkey suspect that OmegaPro may not have operated in isolation and could be connected to Ruja Ignatova, infamously known as the "Crypto Queen." Ignatova founded OneCoin in 2014, a platform that also faced allegations of fraud, and has since vanished without a trace, raising concerns about the broader implications of cryptocurrency scams.