Greece Arrests 17 in €8 Million Crypto Investment Scam

Police in Greece have arrested 17 individuals accused of operating a cryptocurrency investment scheme that allegedly generated €8 million in illicit profits. The group, investigated by police in Katerini, is said to have lured thousands of investors with promises of high returns.

The suspects were arrested in several parts of Greece and include members of the armed forces. Investigators claim the scheme had characteristics of a pyramid operation, with investors encouraged to recruit additional participants to increase their own earnings.

Police searches resulted in the seizure of cash and other evidence, and the suspects were taken before a prosecutor in Katerini to provide statements.