{"id":136068,"date":"2024-08-23T12:00:40","date_gmt":"2024-08-23T09:00:40","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136068"},"modified":"2024-08-23T01:59:50","modified_gmt":"2024-08-22T22:59:50","slug":"turkish-authorities-arrest-crypto-founder-for-4-billion-pyramid-scheme","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/turkish-authorities-arrest-crypto-founder-for-4-billion-pyramid-scheme\/","title":{"rendered":"Turkish Authorities Arrest Crypto Founder for $4 Billion Pyramid Scheme"},"content":{"rendered":"<p>He <strong><a href=\"https:\/\/www.coindesk.com\/policy\/2024\/08\/22\/omegapro-co-founder-arrested-in-turkey-on-suspicion-of-4m-ponzi-scheme-reports\/\">faces<\/a> <\/strong>allegations of orchestrating a pyramid scheme that defrauded investors of $4 billion, according to Turkish media sources.<\/p>\n<p>Szakacs, originally from Sweden and now known as Emre Avc\u0131 after obtaining Turkish citizenship, has denied the charges, asserting that his involvement was limited to finance and marketing.<\/p>\n<p>The arrest followed an anonymous tip on June 28. After Turkish authorities conducted raids on two villas in Istanbul&#8217;s Beykoz district, Szakacs was detained on July 9 and formally arrested the following day on charges related to fraud involving information systems and financial institutions.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/polish-citizen-detained-in-montenegro-for-21-million-crypto-fraud\/\" title=\"Polish Citizen Detained in Montenegro for $21 Million Crypto Fraud\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/12\/880eb147-2ec0-4c14-af5a-39dc62ec930d-large16x9_Arrested-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Polish Citizen Detained in Montenegro for $21 Million Crypto Fraud<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>During the raids, authorities confiscated computers and 32 cold wallets, typically used for offline cryptocurrency storage. Although Szakacs did not disclose the passwords, investigators traced $160 million in cryptocurrency transactions.<\/p>\n<p>OmegaPro&#8217;s downfall in late 2022, which coincided with the collapse of the FTX exchange, led to significant financial losses for investors worldwide.<\/p>\n<p>Dutch national Abdul Ghaffar Mohaghegh, a key witness, reported losing $7 million in the scheme. He also claimed to represent 3,000 investors who collectively lost $103 million due to the alleged fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Andreas Szakacs, a co-founder of the controversial crypto company OmegaPro, was apprehended in Turkey in July.<\/p>\n","protected":false},"author":3,"featured_media":22528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-136068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Turkish Authorities Arrest Crypto Founder for $4 Billion Pyramid Scheme<\/title>\n<meta name=\"description\" content=\"Andreas Szakacs, a co-founder of the controversial crypto 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