The Spanish broker Javier Biosca is accused of continuous fraud, misappropriation and falsehood in a public document, crimes that he would have perpetrated through the company Algorithmics Group, attracting private investors since 2019 who wanted to obtain high interest in the cryptocurrency market.
According to the complaints filed, the defendant, his wife and son, alleged recruiters, guaranteed a weekly return of 20 or 25% (although they later lowered it to 10%) and, as the first investors began to receive benefits, they Word spread and the business quickly went from 30 investors to 500, from whom he defrauded more than 250 million euros. Investor recruitment was done by word of mouth and Biosca operated mainly through WhatsApp.
There are hundreds of people affected throughout Spain and with profiles of all kinds. Some invested little money, from 1,000 euros, and others large amounts of up to one million euros, according to Juan Carlos Gómez León, a lawyer who is handling one of the complaints, to elDiario.es. For its part, the Association of People Affected by Investments in Bitcoins, represented by the law firm of Emilia Zaballos, estimates that those affected could be around 300 and the money scammed would exceed 100 million euros.
With the arrival of the coronavirus pandemic, the first breaches by Biosca occurred. It stopped paying some investors until at the end of October 2020 Algorithmhmics Group stopped paying any amount. Biosca stopped answering the messages and disappeared until he was arrested on June 6 at a Civil Guard control in Malaga after the National Court issued a search and arrest warrant.
He will appear before the judge on July 22.
The judge of the National Court Alejandro Abascal has postponed until July 22 the declaration of the broker Javier Biosca, scheduled for this Thursday, as the alleged ringleader of a pyramid scam against cryptocurrency investors that would have left hundreds of people affected. Biosca should have appeared in person on July 15 before the Central Investigating Court Number 1, for which Abascal ordered that he be transferred from the Alhaurin de la Torre prison (Málaga), where he has been since last July 8.
However, his statement has been suspended, setting a new date for the next day 22. His wife and son, also accused of this alleged fraud, will appear this Friday before the magistrate, according to legal sources consulted by Europa Press. Judge Santiago Pedraz, then in charge of said court, ordered Biosca’s entry into provisional detention to prevent him from escaping, destroying evidence or contacting the injured parties, according to legal sources consulted on the day of the visit. .
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