Degen

In a statement on Feb. 16, Norway’s National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) claimed the scheme amassed over 900 million Norwegian kroner ($80 million) from victims worldwide.

“This is a vast and complex fraud,” said Økokrim state prosecutor Joakim Ziesler Berge. “We are dealing with a large number of victims across multiple countries who have lost their money, while substantial sums have ended up with the defendants.”

According to Økokrim, the perpetrators misled investors into believing they were purchasing stakes in a highly lucrative enterprise with investments spanning gas, mining operations, and real estate.

The alleged fraudsters lured victims through presentations at major international events, offering investment packages that included the company’s proprietary cryptocurrencies and shares.However, Økokrim asserts that beyond the investors’ deposits, the scheme made “no significant investments” and generated no earnings