The State Police together with Ukraine’s law enforcement authorities has busted a fraud scheme operated by an international gang of criminals based in Ukraine’s Kharkiv region.
The total losses caused by the scammers are still being established, as the group carried out its criminal activities over a long period of time and defrauded citizens of various European Union (EU) countries, including Latvia.
As LETA was told at the State Police, investigators are currently identifying several of the scam victims who have lost at least EUR 250,000. The gang of criminals was busted on August 7.
Officers of the Latvian Criminal Police found that the scammers posed as financial experts offering their victims to put their money into fake investment platforms. To earn the victims’ trust, the criminals maintained a website on which they imitated trade in financial instruments.
When the victims from Latvia wanted to withdraw their money from the platform, the criminals told them to wait, promising that their revenue will soon grow even more, which never happened, as the money transferred to the fake investment platform was never invested in any financial instruments and was pocketed by the scammers.
The scam was organized by a 27-years-old resident of Kharkiv who had involved seven accomplices in the scheme.
A total of 25 searches were carried out in the Kharkiv region, and five persons were arrested as suspects. Two other persons who had aided and abetted the criminal scheme are currently cooperating with the police by giving statements.
Evidence seized during the searches include technical equipment related to call center operations, laptops, mobile phones, documents, payment cards, luxury cars and other items. The investigation is ongoing to identify all the persons who have been cheated out of money by this organized gang. The victims of the scammers will be paid compensations.
Source: BNS
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