Amstetten: Investors over fraud stitches with cryptocurrencies deceived

Amstetten: Investors over fraud stitches with cryptocurrencies deceived

A spectacular process currently unfolds in St. Pölten, where two men are responsible for serious allegations of commercial fraud in connection with an alleged cryptocurrency project. At an information event on September 15, 2021 in Amstetten, several participants hoped for large profits when they invested in this project. Unfortunately, this turned out to be deceptive, and they lost a total of around 187,000 euros.

The accused, a 27-year-old man from the Amstetten district and his complica of the same age from Germany, have incorporated at least 28 people in Austria between June 2021 and July 2022 who invested in the project. According to the indictment, investors were attracted with the promise that artificial intelligence would create their money profitably in cryptocurrencies. However, the payment remained closed for one year, which only became aware of the person concerned after this period and the absence of profit payments.

The fraud stitch

Those affected had to find out that the platform to which they hoped was no longer available and the two accused apparently used the paid funds for their own luxurious lifestyle - among other things by possession of an Audi R8. The prosecutor suspects that there are many other victims who have not yet reported. It is noteworthy that an investigation is also pending in Germany, since the two defendants are said to have cheated by around 150,000 euros there.

Both men who are not guilty in the process rely on different explanations. The Austrian defendant claimed that he had trusted German experiences, while the German defense claimed that the two were equal partners, everyone with access to the system. The two -person defendant mentioned that they were all convinced of the success of the project and the current market situation met them unprepared.

The situation continues to develop and there are at least two further negotiation dates to be interviewed on which additional witnesses are to be interviewed. These developments shed light on the increasingly complex world of cryptocurrencies and how easily people can get into financial difficulties if supposedly lucrative offers come into play.

During the process, it remains to be seen which further revelations will come to light and how the injured party may be able to assert their claims. For more details on this case, See the report on www.meinbezirk.at .