A 24-year-old Dutch law student and soccer player is facing serious charges after allegedly defrauding around 300 people in a massive cryptocurrency scam. The alleged losses total between $1.5 million and $4.5 million euros.
The Scam
The man, who remained unnamed in reports, built a reputation as a “crypto genius” among his friends, family, and fellow soccer players. He offered to invest their money for them, promising high returns. Instead, he allegedly used their funds for high-risk crypto trades that ultimately failed, wiping out millions.
The Fallout
After losing all the invested money—including his own—he and his brother sent emails to their clients, breaking the bad news. Facing angry investors, he went into hiding.
The Arrest
Victims reported the incident to the police, leading to a months-long investigation. He was eventually arrested and charged with fraud and embezzlement. Adding to the charges, authorities allege he continued to take on new clients even as his “investment company” teetered on the brink of collapse. The case highlights the risks involved in entrusting funds to individuals promising high returns in the volatile cryptocurrency market.
