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Crypto fraudsters funnel millions of euros through Swiss law firm

Header crypto fraudsters funnel millions of euros through law firm in Switzerland.

Summary

Belgian investigators found that crypto fraudsters laundered over €30 million through a Swiss law firm involved in a virtual coin pyramid scheme.

02/10/2025

Belgian investigators have discovered that a group of crypto fraudsters funnelled tens of millions of euros through a law firm in Switzerland. In 2018, the fraudsters set up a company in Zug, Switzerland, to carry out their plan. Only later did the company officially come under Belgian ownership. The gang lured investors into a pyramid scheme involving virtual coins, promised high returns and then disappeared with the money. 

A law firm in Switzerland provided legal structures to make the fraud possible. More than 30 million Swiss francs (approximately 32 million euros) went to the firm via a third-party account, a large part of which was forwarded to a Dutch notary.   

The Belgian authorities have asked Switzerland for assistance with the investigation. The law firm and a subsidiary mounted a defence, but the Swiss Federal Criminal Court rejected their appeal. 

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