A 24-year-old Dutch law student who was the subject of a police manhunt last year was arrested this week after further evidence was submitted in relation to his alleged multi-million euro crypto scheme.
The self-styled crypto banker from Hengelo, Netherlands, vanished last year after his crypto trading scheme collapsed and investments of up to €4.5 million ($4.6 million) from an estimated 300 people, including friends and family, were lost.
RTV Oost reports that the man went into hiding after investors harassed him. He then went to the police and, after a consultation, was moved to a safe location in the country.
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However, he was arrested on Monday after a foundation set up by out-of-pocket investors and which aims to discover what happened to the lost funds, submitted further evidence.
According to one victim, the alleged scammer continued to take on new investors despite his scheme already being on the verge of collapse.
Investors in the Dutch crypto scheme were apparently made to hand over a minimum fee of €5,000 ($5,146) to invest while he would take 50% of any profits as payment. He earned the title of “crypto genius,” but lawyers claimed his enterprise was an apparent crypto pyramid scheme where he paid back old investors with funds taken from newcomers.
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