An “experienced investor in cryptocurrencies” lost his life savings after being targeted by fraudsters offering investments in fake Bitcoin, promising returns of 15 times his initial investment.
The case is now being investigated by Jersey’s hi-tech crime police unit and the UK’s National Crime Agency, both of which said it is very unlikely they will be able to recover the £1.2m ($1.5m, €1.4m).
The units found that the gang was operating from Norway, but they left a trail of bank accounts all over the world.
Now, the Jersey Fraud Prevention Forum (JFPF) is urging people to be “extra vigilant”.
It looked legitimate
The criminals used well-known UK companies to appear as a legitimate investment operation.
According to local paper, Jersey Evening Post, the scam was 18-months long which allowed the fraudsters to gain the victim’s trust.
They made him believe that he could get 15 times the sum he had invested and also requested further funds from him, saying that they were needed for taxes and fees imposed by the foreign jurisdiction the money was sent to.
Mike Jones, director of policy and risk at the Jersey Financial Services Commission, said: “Following this islander’s huge loss, we are warning local residents to be extra vigilant when investing in cryptocurrencies or any investment that seems too good to be true and promises high returns with no risk.
“Always get independent advice from a professional, and make sure the company you’re dealing with is legitimate.”
