5 Arrested In Lithuania For Running Investment Scam

Law360, London (March 25, 2021, 4:56 PM GMT) -- The European Union's police agency said on Thursday that five people have been arrested in Lithuania and €1.2 million ($1.4 million) in bank accounts frozen after a crackdown on an online investment scam operating in several countries.

Lithuanian police led the operation, in which officers seized electronic equipment and raided more than 20 houses, according to Europol. British, German and other national law enforcement agencies were also involved in the investigation.

The investment scam offered savings accounts, encouraging people to deposit money online for between six months and three years. The fraudsters gained sufficient time to escape with the money and cover...

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