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The gang's scam: Alleged trading in cryptocurrencies (symbol image)
Photo: Andrew Brookes / imago images / Westend61
A 44-year-old alleged accomplice of the "Wolf of Sofia" will probably have to answer in Munich for online investment fraud in the millions.
The man is charged with commercial and gang fraud in more than 300 cases, as the Central Cybercrime Bavaria announced on Monday in Bamberg.
It is about damage of at least around 8.7 million euros - and at least 335 victims.
The suspect himself is said to have received at least 760,000 euros.
He faces a prison sentence of up to ten years.
The investigators also assume that there is a large number of unreported cases and that there are probably significantly more victims.
The planned process should run before the Munich I district court.
The accused is said to have been a leading head of a fraud gang headed by the man whom the media dubbed "Wolf of Sofia".
This is a man convicted of cybercrime in Austria.
The nickname "Wolf of Sofia" refers to the film "Wolf of Wall Street" and the fact that the gang is said to have operated call centers not only in Serbia, Bosnia and Herzegovina and Georgia, but also in Sofia, Bulgaria.
The group's criminal scam recently hit the headlines in connection with the revelations surrounding the so-called Pandora Papers.
The data leak had exposed tax tricks, mailbox companies and operations in the international shadow financial market.
Money laundering network installed throughout Europe
The perpetrators of the "Wolf of Sofia" are said to have lured potential customers with the help of websites with names such as Safemarkets, OptionStarsGlobal, Cryptopoint and XTraderFX. Among other things, various cryptocurrencies could be traded on the digital platforms. The cheated investors opened a trading account on the websites for 250 to 300 euros. He is then gradually convinced by alleged experts to invest more and more money - in bogus companies or with so-called financial agents who could have been privy to the fraud as straw men.
With this approach, the money is usually then distributed via a complex money laundering network installed throughout Europe.
The groups of perpetrators are to operate call centers abroad, in which several hundred people with the necessary foreign language skills work.
The now accused man is said to have played an essential role as "Vice President Sales" - as Vice-Head of Sales - within the management of the criminal structures.
According to the investigators, he was involved in the organization and management of the call center.
He was reportedly arrested at Athens airport and extradited from Greece to Germany in November 2020.
He has been in custody here ever since.
According to the Bamberg Public Prosecutor's Office, two accomplices had already been sentenced to prison terms of two years and nine months and four years and six months by the Würzburg district court in June.
According to the German investigators, other alleged perpetrators are waiting for their trial in the Serbian capital Belgrade.
The responsible Chamber of Commerce of the District Court of Munich I will now have to decide whether the indictment against the 44-year-old will be admitted to the main hearing.
pbe / dpa