Cryptocurrency scammer arrested in Tenerife

A CRYPTOCURRENCY scammer has been arrested in Tenerife following an investigation into a Ponzi-type scam that saw €378,750 stolen, affecting at least 26 people.

Policia Nacional and Guardia Civil officers have arrested the chief executive of a company based in the Canary Islands that, allegedly, was defrauding people through investments in cryptocurrencies using a Ponzi-type scam.

Officers also raided four company offices, located in the towns of Adeje, Arona and Candelaria, where they have seized three high-end vehicles, abundant documentation and electronic devices, as well as, numerous bank accounts in the name of the investigated persons, which have now been blocked.

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Written by

Matthew Roscoe

Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]


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