Crypto Platform Managers Arrested in Istanbul
Two managers of a now-defunct crypto trading platform, OmegaPro, have been arrested in Istanbul.
Robert Velghe, a Dutch executive, was arrested on Tuesday, following the arrest of Andreas Szakacs, a Swedish founder, in July. Turkish media reported that the managers are accused of making off with $4 billion in profits from the platform.
OmegaPro, created in 2018 and registered in Saint Vincent and the Grenadines, promised investors extremely high returns. The platform began to falter in late 2022, leading to a freeze of funds and the disappearance of its website in July 2023. Investors were then offered the opportunity to reinvest their money in a new venture, Go Global.
French prosecutors are investigating OmegaPro, following a complaint filed in February by “nearly 2,000 victims” alleging fraud, breach of trust, and deceptive commercial practices. Lawyers for the victims claim OmegaPro promised returns of up to 300% over a 16-month period. French clients are reported to have lost “several hundred millions of euros.”
This case highlights the risks associated with investing in unregulated crypto platforms. Investors should always conduct thorough due diligence before investing in any crypto project, including checking the platform’s registration and licensing. It’s also important to be wary of promises of exceptionally high returns, as these can be a red flag for potential scams.
