Australia’s Crime and Crime Prevention and Financial Crime Unit said fraudsters tricked more than 100 investors into looting about $ 1.83 million.
Fraudsters convinced victims that their investments would bring significant returns. According to a statement released by the Queensland police, from 2017, the organizers of the scheme urged victims to invest cryptocurrencies in a company called Exmount Holdings Group, which had a website, a call center and sales specialists.
The victims were invited to make a test investment, after which it was necessary to invest more funds, which supposedly bring significant income. They were provided with accounts on the website where they could track the growth of their investments during the trial period. Detective Terry Lawrence of the financial and cybercrime group said:
“When the victims tried to withdraw their funds, they did not succeed. Their money was lost, and any attempts to contact one of the companies or its employees were unsuccessful. ”
Other organizations and websites allegedly linked to the fraudulent scheme include Exmount Holdings Ltd, The Quid Pro Quo Foundation, Atlas Group, AFG Associates Pty Ltd, tradex123, exmounttrading, atlasfxgroup and amazonqus, police said. Five organizers of the scheme are currently accused of fraud and money laundering and will appear before the world court on August 9, August 22 and November 5.
Queensland police are still looking for other fraud victims or people with information that could help the investigation. Lawrence warned the public “to be wary of any unwanted phone calls or emails that offer investment opportunities, and seek independent advice from friends, relatives, or financial advisors.”
Australian regulator warns in May from investing in the OneCoin cryptocurrency pyramid, and in April it was reported that the Australians lost more than $ 6 million in cryptocurrency frauds.