The Stuttgart public prosecutor's office, with the support of the Baden-Württemberg State Criminal Police Office (LKA BW) and in the form of investigative cooperation with Serbian law enforcement authorities mediated by Eurojust, is conducting an investigation into investment fraud against currently 17 defendants, most of whom are said to have committed the fraud in Serbia, Bulgaria and Cyprus.

Searches in four countries

In Eastern Europe, the group is said to have operated, among other things, several professional call centers. At times, up to 200 workstations were in operation in four call centers.

They allegedly lured the injured parties to manipulated websites via advertisements on social networks and held out the prospect of a promising investment in cryptocurrencies. After the first payment was received, the suspects are said to have faked profits using fake exchange rates, which was intended to encourage the victims to continue investing. The damage is currently well over one million euros. The alleged group of perpetrators apparently took these funds abroad and laundered them via an elaborate network.

Raids well prepared

An international search operation took place on Wednesday (January 11, 2023). Eurojust has set up a separate coordination office in The Hague especially for this occasion. Under the leadership of the LKA BW, police officers from Baden-Württemberg searched several objects in Germany, Serbia, Bulgaria and Cyprus under the direction of the Stuttgart public prosecutor's office in close cooperation with their international colleagues. Europol experts also support these operations on site.

“The essential prerequisite for an effective fight against organized crime is smoothly functioning international law enforcement and judicial cooperation. Above all, this requires a rapid exchange of information and unbureaucratic and concerted cooperation between all actors across national borders.

Andreas Stenger, President of the LKA BW

Close and good cooperation between the police and the judiciary is often the key to success.

“International organized crime and criminal networks represent a major challenge. Hardly any other industry is as flexible when it comes to adapting to current developments in order to expand their illegal activities and generate criminal profits. This international search operation is an impressive example of cross-border cooperation at European level.”

Andreas Stenger, President of the LKA BW

Extensive evidence was seized

During the search operation, which affected both residential and business premises, the officers were able to secure extensive evidence such as data carriers, documents, cash, assets and various cryptocurrencies. Investigators are currently evaluating the evidence. The investigation is ongoing.

Background information on the European organizations involved

The European Union Agency for Criminal Justice Cooperation (Eurojust/European Union Agency for Criminal Justice Cooperation) supports judicial coordination and cooperation between national authorities in the fight against terrorism and serious organized crime affecting more than one EU country .

Based in The Hague (Netherlands), Europol supports the 27 EU Member States in combating terrorism, cybercrime and other serious and organized forms of crime. Europol also works with many non-EU partner states and international organizations. From various threat assessments to intelligence and operational activities, Europol has the tools and resources it needs to contribute to improving security in Europe.

Source:

Stuttgart Public Prosecutor's Office, LKA BW and Europol
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