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.