A 30-year-old crypto trader in Belarus is accused of using investor funds for gambling. Allegedly, he lost over 1 million Belarusian rubles ($293,387) of investor money. Authorities claim he posed as a crypto expert, using Telegram to attract victims. A criminal case has been filed against the unnamed man, with charges of large fraud. The investigation is ongoing, and the Investigative Committee is searching for more victims. Ten victims have reportedly come forward.
Victim After Victim
His first client, a 37-year-old woman he met online in 2024, was convinced to invest in crypto. The project turned out to be a scam, and despite initial promises, the money was gone. He told the woman further investment would recover her funds, unknowingly fueling his gambling. To manage debts, he approached another person online. He convinced a 26-year-old to invest in crypto with the same scheme, promising returns with interest. During interrogation, he admitted he hoped for a big casino win to repay investors. He scammed at least 10 people, using their investments in “crypto” to gamble or settle debts, then moved on to new victims. He even had his girlfriend take out a car loan to repay some debts. Investigators found he had only one successful investment during the period.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com