Investment scam in Turin: 1.6 million euros seized

They would have proposed apparently very advantageous investments to be made through a London-based bank, managing to raise several million euros from hundreds of savers. The bank, however, lacked the necessary authorizations and the investments were never actually subscribed. This is what emerges from the investigations of the Turin Financial Police, which seized money and assets worth over 1.6 million euros from the alleged promoters of the scam.

The investigations conducted by the Fiamme Gialle of Turin, delegated by the Prosecutor's Office of the Piedmontese capital, are part of the Gdf's commitment to combat crimes against property perpetrated against unsuspecting savers. The Economic-Financial Police Unit managed to reconstruct in detail the illicit activities carried out by the criminal association, bringing to light a sophisticated scam in the investment sector.

According to what emerged, the suspects made use of a dense network of self-styled financial advisors to convince the victims of the scam to rely on them for large investments in gold and cryptocurrencies. Apparently, the returns were very high, a dynamic that allowed the scammers to collect a total of over six million euros.

Customers were told that the investments would be made through a bank with offices in Spain and Turin. The financial institution, however, had been set up specifically to carry out the scam and did not have the necessary permits to operate on the financial markets.

The investments, therefore, according to the investigators' reconstruction, were never actually made and the money collected was only partially used, in an initial phase of the scam, to return sums to the victims as interest on the capital spent, making use of the well-known Ponzi scheme.