OmegaPro Co-Founder Arrested in Turkey on Suspicion of $4B Ponzi Scheme: Reports

Andreas Szakacs, co-founder of OmegaPro, a suspected cryptocurrency-related rip-off, was arrested in Turkey in July, Turkish media reported.

Turkish authorities have seized chilly wallets and computer systems and tracked $160 million in cryptocurrency actions, the experiences stated.

Andreas Szakacs, co-founder of OmegaPro, was arrested in Turkey in July for his involvement with the corporate that allegedly defrauded buyers of $4 billion in a cryptocurrency Ponzi scheme, Turkish media reported Thursday.

Szakacs, a Swede, modified his title to Emre Avci after changing into a citizen of the nation, in line with Turkey Right this moment. He rejected the accusations and stated he labored within the monetary and advertising sectors, in line with BirGün, an Istanbul every day.

In accordance with Behindmlm.com, the gendarmerie seized computer systems and 32 chilly wallets. Though Szakacs didn’t present passwords for the units, Turkish authorities have been in a position to observe $160 million in cryptocurrency actions, BirGün stated.

OmegaPro reportedly collapsed in late 2022, across the time the FTX crypto empire crashed. Beforehand, international locations together with France, Belgium, Spain and Argentina despatched regulatory fraud alerts in regards to the firm, Behindmlm.com reported on the time. OmegaPro didn’t goal American prospects, the corporate stated.

The arrest adopted a tip from an nameless informant on June 28.

A Dutch nationwide, Abdul Ghaffar Mohaghegh, gave a press release to the gendarmerie saying he had misplaced $7 million within the scheme and claimed to have energy of lawyer from 3,000 of the affected buyers who had collectively misplaced $103 million.

In accordance with Turkey Right this moment, Szakacs was arrested on July 9 after two villas in Beykoz, Istanbul have been raided. BirGün stated the arrest for “fraud by way of using data programs, banks or credit score establishments as a device” passed off on July 10.

Learn extra: Turkey brings Crypto regulation to parliament and goals to deliver crypto licenses to the nationCORRECTION (August 22, 15:20 UTC): Corrects the determine within the headline to $4 billion