ProCap Newsletter No. 6

Dear Clients,

We would like to remind you of how the ProCap scheme deceived investors, using classic financial fraud tactics under a modern digital facade.

ProCap was presented as an investment platform promising high returns through “predictive games” and digital investment packages. Initially, users were able to withdraw their invested funds, creating the illusion of security and legitimacy. However, payouts depended entirely on new investor deposits, making it a classic pyramid scheme.

The key moment of the fraud occurred in December 2024, when the platform launched its own payment system, Luminex. Shortly after, investors were blocked from accessing their funds under the pretext of additional KYC verification, while ProCap’s real operators diverted the money to unknown accounts.

As investors struggled to recover their funds, authorities launched an investigation into key members of the platform. CEO James Teo was arrested on charges of fraud and money laundering, while ProCap Management is now facing legal action in multiple countries. Official bans and warnings have been issued against the platform in countries such as the Philippines and Hong Kong.

If you are among the victims, we encourage you to contact us for legal advice on possible steps to protect your rights.

Kind regards,

Zoran Miljakovic

Attorney at Law