Andreas Szakacs, the OmegaPro co-founder, was arrested in Turkey for his claimed involvement in a multi-billion-dollar crypto scam.
In July, Andreas Szakacs, the OmegaPro co-founder of the cryptocurrency and forex platform that subsequently collapsed, was apprehended in Turkey. He is accused of defrauding investors through a $4 billion crypto Ponzi scheme.
OmegaPro Co-founder is Arrested for Scam
The OmegaPro Co-founder is accused of defrauding investors by promising substantial returns through OmegaPro’s “automated trading” algorithm, accumulating their funds, and barring their accounts, according to a report from local Turkish media on August 22.
The allegations have been denied by Szakacs, a Swedish citizen who changed his identity to Emre Avci after relocating to Turkey.
The arrest of Szakacs resulted from a tip-off from an anonymous informant on June 28, which Dutch national Dr. Abdul Mohaghegh subsequently verified. Mohaghegh asserts that he represents 3,000 investors who collectively lost $103 million to OmegaPro.
OmegaPro, a cryptocurrency and forex investment company, was established in 2019 and was headquartered in Dubai. It provided investors with a range of paid investment products that could generate up to 300% returns.
OmegaPro platform users reflect on their initial modest investments, which yielded rapid returns. User accounts were ultimately closed, and subsequent demands for additional investment were made.
The company reportedly commenced the closure of user accounts on November 7, 2022, and ceased withdrawals by November 22, coinciding with the implosion of the crypto exchange FTX.
Numerous jurisdictions, including France, Belgium, Spain, and Peru, reportedly issued regulatory fraud warnings regarding the platform before the firm’s collapse. It is purported to have primarily targeted consumers outside of the United States.
Computers, a variety of mobile devices, and 32 crypto cold wallets were confiscated by Turkish law enforcement. Local news outlet Birgun reported that Turkish police could monitor more than $160 million in transactions. However, Szakacs did not provide any information that would have enabled authorities to access the purses.
OmegaPro’s funds, according to local investigators, were closely associated with the notorious OneCoin crypto fraud scheme, which also defrauded investors of $4 billion.
OneCoin, established in 2014, was revealed as a fraudulent cryptocurrency scheme in 2015. During its two-year tenure, it defrauded its investors of approximately $4 billion in assets.
The United States has prosecuted numerous members of the conspiracy’s top brass, including Ignatova’s boyfriend Gilbert Armenta, lawyer Mark Scott, former head of legal and compliance Irina Dilkinska, co-founder Karl Sebastian Greenwood, and William Morro, for their involvement in the scheme.
On June 26, the US Department of State increased the reward for any information that would result in the apprehension and conviction of Ignatova. The reward has been increased from $250,000 to $5 million, an increase of $4.75 million. The reward is for information regarding Ignatova’s whereabouts.
