- Andreas Szakacs was arrested in Istanbul in July for his role in the $4 billion OmegaPro scam.
- OmegaPro’s capital is linked with another scam, OneCoin, that set its investors behind by $4 billion.
As a seasoned financial analyst with over two decades of experience, I have witnessed numerous instances of fraud and deception in the world of finance. However, the scale of the OmegaPro scam, linked to the infamous OneCoin, is truly staggering. The audacity of Andreas Szakacs, alias Emre Avci, to lure unsuspecting investors with false promises of high returns and then disappear with billions of dollars, is nothing short of criminal.
Andreas Szakacs, one of the founders of collapsed crypto and foreign exchange platform OmegaPro, was apprehended in Turkey back in July due to suspicions of defrauding investors out of an estimated $4 billion. The platform functioned like a Ponzi scheme, where funds from new investors were utilized to compensate earlier investors, giving an illusion of profitability while the company failed to generate substantial income.
A Swedish national named Szakacs, who later adopted the identity of Emre Avci when he moved to Istanbul, attracted investors by suggesting lucrative earnings from trading. However, upon his arrest in Turkey on July 8, ten days after authorities were alerted about his presence in the country on June 28 via a tipster’s letter, he refuted these claims.
A Dutch citizen, Dr Abdul Ghaffar Mohaghegh, confirmed the authenticity of an anonymous letter and reported to authorities that he had been defrauded of $7 million as part of a larger group of 3,000 investors who collectively lost approximately $107 million due to the OmegaPro scam.
In November 2022, just as FTX was collapsing, OmegaPro halted customer withdrawals. Many clients had shared online that they received quick returns from their initial investments with OmegaPro. They were encouraged to invest more, but then withdrawals stopped on the platform and Szakacs disappeared, taking investors’ funds with him. Eventually, OmegaPro closed down entirely in July of the following year.
As a researcher, I’m sharing the following information: My findings indicate that the co-founder was apprehended in the Beykoz region of Ankara, Turkey, during a police raid on two villas. One of these villas was where the co-founder resided, while the other was rented by Stefan Andreas, a suspected accomplice in this alleged fraudulent scheme. Unfortunately, Stefan Andreas could not be located at the time and is currently believed to be in hiding.
Authorities Find 36 Crypto Wallets Along With Mobile Devices and Computers
Despite this, officials confiscated 36 cryptocurrency wallets, computers, and phones used in over $160 million worth of transactions. However, Szakacs refused to assist with their investigation. He has flatly denied all accusations leveled against him.
It’s widely suspected that the financial resources of OmegaPro have ties to the massive $4 billion OneCoin fraud scheme. The founder of this company, Ruja Ignatova, often called the ‘Cryptocurrency Queen,’ is still untraced and on the run.
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2024-08-24 15:42