Italian Police Bust Investment Scam Used To Launder €9.6M
Law360, London (April 23, 2021, 3:39 PM BST) -- European enforcement authorities have wrapped up a multi-million euro investment scam whose victims made initial gains before losing all their capital after being lured to make bigger investments, according to the European Union's agency for coordinating criminal justice.
Eurojust said that Italian police shut down a scheme used to launder €9.6 million ($12 million), and also to defraud more than 100 Italian victims for a total of at least €1.3 million through a website.
More people in other European countries may also have fallen for the scam, which operated via a market-listed German investment company that was registered in Cyprus, Eurojust...
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