Arson spree ended CRYPTO SCAM

A FRAUDSTER has been arrested in Palma de Mallorca accused of the misappropriation of over €100 million through a crypto scam.

The Spaniard, 60, is believed to be the leader of the organisation, which has allegedly scammed at least 3,000 people around the world.

Police confirmed to the Olive Press that many of the victims are British, with others scattered around Northern Europe.

“He has a great number of enterprises across Spain and is believed to be the inventor of the scam,” a Guardia Civil spokesman told the Olive Press.

The investigation was launched after a complaint from an alleged victim in the Basque region who was fobbed off with excuses when he tried to cash in his investment.

Hooked

Cops eventually tracked down bank transfers to a company based in Palma, which then forwarded the money to countries outside the EU such as Azerbaijan, Georgia, Ukraine, Russia or Israel.

Clients were hooked via adverts on a website named Pibexa.com, which has now been taken down. Guardia Civil told the Olive Press that the investigation remains open and that a number of international arrests are expected to take place.

He added there were ‘quite a lot’ of British clients, certainly over a dozen, but would not be drawn on exact numbers.

Firefighters had a busy morning dealing with the incidents while council teams repaired damage to street furniture.

The arson spree started at around 3.20am with the final blaze coming just over two hours later.

The 23-year-old man also stole items from some of the cars he set on fire.