A 58 yr outdated man and his 81 yr outdated father have been convicted on Ponzi fraud prices.
Authorities in Austria started investigating the duo following an nameless grievance filed in November 2019.
Investigators uncovered 13 million euros in damages, tied to promotion of Minerva Buying and selling Bot.
Minverva Buying and selling Bot was an MLM Ponzi scheme launched by Gregor Maihart in mid 2019.
Minerva Buying and selling Bot was run via Telegram and promised traders a 200% ROI. After Minerva Buying and selling Bot collapsed, Maihart funnelled his victims into the Finiko Ponzi scheme.
Minerva Buying and selling Bot’s victims had been primarily from Austria, Germany and Switzerland.
Maihart is from Austria and seems to suit the 58 years outdated description of one of many arrested suspects. I haven’t been capable of 100% affirm if he’s the youthful suspect nonetheless.
After Minvera Buying and selling Bot and Finiko collapsed (circa mid 2021), the youthful suspect fled to Bulgaria.
By this stage the Austrian investigation had expanded throughout Europe via cooperation with Germany, Switzerland and Bulgaria.
The youthful suspect was arrested in Bulgaria on a European arrest warrant on October twenty first, 2021. The suspect was extradited to Austria in November.
Round this time his father, the 81 yr outdated suspect was additionally arrested. He was later launched on bail.
Following an interrogation by Austria’s Public Prosecutor’s Workplace for Financial Affairs and Corruption, each suspects confessed.
Following a trial held in late 2022, the youthful suspect was sentenced to 4 and a half years in jail. His father acquired a 30 month partially suspended sentence.
