Germany Led International Team Arrest Investment Fraud Suspect in Cyprus, Seize Assets and Cash After a Couple Complain of Scam

• An international team of law enforcement agencies arrested an investment fraud suspect
• The collaborative effort led to the discovery of electronic devices, cash, and documents related to the scam
• Scammers tricked victims into paying a higher amount to get higher returns on investment

As part of a joint operation led by German authorities, an individual suspected of scamming people through fake online investment schemes has been arrested. They arrested the suspect on 13 May 2025 in Cyprus after a married couple turned to law enforcement for help after being duped.

The effort with the judicial cooperation of Eurojust and the operational support from Europol has been instrumental in dismantling the fake investment platform. 

Scamsters made over EUR 3 million after duping over 100 victims globally. The investigations have been ongoing for the past few years, with the arrest being the latest development.

Raids were conducted simultaneously in Albania, Cyprus, and Israel by authorities from the respective countries, including the U.K., at eight locations. The police seized evidence, which included cash, electronic devices, and documents pointing to the scam. 

”The criminal network lured victims with the promise of high returns on investments through a fraudulent online trading platform,” the Europol press release stated.

“After the victims made initial smaller deposits, they were pressured to invest larger amounts of money, manipulated by fake charts showing fabricated profits,” the press release further added.

Law enforcement agencies began investigating the case after the couple made a report and found traces of an extensive criminal network. They arrested the first two suspects on 6 September 2022.

They found critical evidence that led to the arrest of seven members associated with the investment scam. Among the arrested individuals was the manager who operated the call centers to contact potential victims to be pitched for the fraudulent investment scheme.