On November 13, the European Union Agency for Law Enforcement Cooperation (Europol) announced that it had successfully cracked down on a criminal network engaged in online scams through call centers. The network was spread all around Europe.

According to Europol, the operation was carried out on January 11, 2023, following an investigation that began in June 2022 at the request of the German authorities. In conjunction with the national authorities of the other countries, Europol conducted raids in 22 different locations between Bulgaria, Cyprus, and Serbia. This resulted in the arrest of 15 individuals, 14 of whom were in Serbia and one in Germany.

In addition to the arrests, authorities also seized 3 physical wallets containing approximately $1 million in cryptocurrencies and about €50,000 in cash. They also seized 3 vehicles, electronic equipment, backups with important information, and other documents. The investigation is still ongoing as it is believed that the criminal network has more call centers than were raided.

According to Europol, the criminal network conducted a cryptocurrency pyramid scheme through which they lured victims by offering “apparently exceptional” cryptocurrency investments with the promise of large and guaranteed profits. The network was able to capture hundreds of millions of euros with the operations of just 4 call centers. Many victims, however, chose not to report to law enforcement agencies, making it difficult to quantify the damages.

Free Legal Advice

The expanded investigation in this case will continue, and more funds are likely to be seized. We advise anyone who has been a victim in this case to seek immediate legal counsel and submit their claims in order to be eligible for the retrieval of assets. If you wish to be represented by our firm, Defendme Global, you can contact us via email at office@defendme.global or via the contact form on our webpage at defendme.global.