$5.5 Million Crypto Scam: Luxury Cars Seized and Ferrari Confiscated!

By Lola Coin Jun 24, 202383Views

, , , ,

Australian authorities have charged two individuals in connection with a cryptocurrency scam that defrauded $5.5 million from two companies. Fabio Sa Alves, one of the alleged masterminds, was arrested in Sydney and various assets were confiscated, including luxury vehicles, motorcycles, cryptocurrency wallets, and designer watches. The seized luxury vehicles, valued at $2.7 million, included a $600,000 Ferrari taken from a car dealer in Marrickville. Alves is accused of using the crypto scam to steal from the companies, while his 67-year-old accomplice is accused of authorizing the funds and hiding the Ferrari. Alves has been charged with multiple counts of deception and concealing stolen funds, and his next court appearance is scheduled for Aug. 24. In light of this case, residents are advised to only work with approved crypto platforms when investing in digital assets.

Continue reading on Bitcoin.com

Read Disclaimer

This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.