Two OmegaPro Crypto Platform Managers Arrested in Turkey Amid $4 Billion Fraud Allegations

ISTANBUL, Turkey — In a significant development in the cryptocurrency sector, two executives from the now-defunct trading platform OmegaPro have been arrested in Istanbul, according to reports from Turkish media on Friday.

Robert Velghe, a Dutch national and executive at OmegaPro, was apprehended on Tuesday. This follows the earlier arrest of Andreas Szakacs, a Swedish co-founder of the firm, in July. The arrests are part of a broader investigation into the alleged misappropriation of funds amounting to $4 billion, which the platform reportedly promised to investors in exchange for extraordinarily high returns.

OmegaPro, established in 2018 and registered in Saint Vincent and the Grenadines, had attracted numerous investors with claims of returns as high as 300 percent over a maximum period of 16 months. However, the company began facing financial difficulties towards the end of 2022, leading to a freeze on its funds and a subsequent disappearance of its website in July 2023. Investors were left in the lurch, with many unable to retrieve their funds, and were instead encouraged to reinvest in a new venture called Go Global.

The Turkish authorities have yet to provide any official comments regarding the arrests. Meanwhile, French prosecutors are also investigating OmegaPro, following a complaint lodged in February on behalf of nearly 2,000 victims. The complaint alleges fraud, breach of trust, and deceptive commercial practices by an organized group, as reported by the French association Capital.

As the cryptocurrency landscape continues to evolve, incidents like these highlight the risks involved in digital trading platforms and the importance of regulatory oversight to protect investors.