Ukrainian police said they dismantled a fraudulent call center in Lutsk that presented itself as an investment business offering access to cryptocurrencies, securities, and foreign exchange markets. Investigators believe the organizer and accomplices may have generated as much as $500,000 in profit per month.
According to law enforcement, the operation targeted people in Ukraine and EU countries through operators who claimed to be financial analysts, brokers, or representatives of international investment firms. Police said around 60 operators were involved in the scheme.
How the alleged scheme worked
Investigators said potential victims were persuaded to sign up on trading platforms created for the operation and to make an initial deposit. After that, the accounts shown to clients allegedly displayed fabricated balance growth and seemingly successful trades, encouraging them to send more money.
Police said some victims were also pushed to take out loans in order to increase their investments. When clients later tried to withdraw funds, they were allegedly told to pay extra charges described as taxes, insurance premiums, or transaction fees.
If a client refused to make those additional payments, or sometimes even after paying them, access to the account was reportedly cut off and communication with the supposed investment company stopped.
Use of crypto wallets and concealment tools
Law enforcement said the funds collected through the scheme were transferred to transit cryptocurrency wallets controlled by the suspects. Investigators also said the group used internet telephony and VPN services in an attempt to hide its activity and obscure those responsible.
The call center is alleged to have relied on scripts and prepared communications in foreign languages, suggesting a structured sales process aimed at victims beyond one local market.
Searches and property seized
During searches, officers seized about $30,000 in cash, 468 mobile phones, 214 SIM cards, and more than 1,000 pieces of computer equipment. Police also reported taking 193 data-containing devices, network-attached storage systems, video surveillance equipment, a Lexus, and draft pre-written texts in foreign languages.
Authorities estimated the total value of the seized property and equipment at about 10 million Ukrainian hryvnias.
Who investigators say was behind it
Police said the organizer and some accomplices are believed to have lived in Lviv while managing the Lutsk office through trusted intermediaries. The case remains under investigation as authorities work to establish the full circle of participants and identify possible victims.
Law enforcement said decisions are now being made on the arrest of the seized property. The next confirmed step in the case is the continuation of the investigation into both the people involved and the assets linked to the alleged operation.
Source: incrypted.com