TPF: Fraud investigation into a young cryptocurrency investor

TPF: Fraud investigation into a young cryptocurrency investor

 

TPF - Fraud investigations into Dadvan Yousuf, the young man who claimed to have become a millionaire thanks to Bitcoin & Cryptocurrency. Dadvan is accused of fraud scheme!

 

The Attorney General's Office of the canton of Bern must continue the criminal investigation into suspicion of professional fraud and money laundering against the young Cryptocurrency investor Dadvan Yousuf.

This was established by the Federal Criminal Court by rejecting the request of the Bern public prosecutor's office to transfer the case to the Attorney General of the Confederation.

 

According to the Bern Public Prosecutor's Office, Yousuf, described as a young Cryptocurrency billionaire, created a foundation in the canton of Zug in March 2021. He hit the headlines in 2021, telling his "success story", that of a little boy Iraqi who at the age of 11 sells his toys and invested in Bitcoin becoming very rich a few years later.

 

Fraud: Thanks to the interest that national and international media have reserved for him, he allegedly convinced investors to buy his cryptocurrency and promoted an algorithm for automatic cryptocurrency trading of his invention, promising handsome profits. In reality, he never intended to fulfil the promises and the allegedly illegal profits flowed abroad, according to a judgment of the TPF Appeal Chamber of 19 December 2022 published today, reported by the "Tages-Anzeiger " and Radio SRF.

 

Investor funds were transferred to a Swiss bank account until the end of May 2021, and then the remaining money was transferred to a Liechtenstein-domiciled financial institution via an account at another bank.

Between May 28, 2021, and June 21, 2022, further fraudulent payments were allegedly received from potential investors to various accounts held by Yousuf at this bank. At least some of the money was allegedly transferred from Liechtenstein to a US-based cryptocurrency platform and a company account in the UK.

 

The first bank filed a report with the Money Laundering Reporting Office (MROS) on May 18, 2021. After preliminary investigations, the Attorney General of Bern requested that the case be transferred to the Attorney General's Office. The TPF rejected the request because there are still too many unanswered questions and further investigation is needed to definitively determine jurisdiction and fraud intentions.