Millions of victims

Billion-dollar fraudster from Graz arrested in Turkey

Special forces of the Turkish police arrested the Styrian in Istanbul (symbolic image).

(Bild: AP)

An Austrian is said to have set up a global crypto network and caused damage amounting to four billion US dollars. Handcuffs have now clicked in Turkey. 

The story sounds like something out of a Hollywood thriller: living in an idyllic location on the northern outskirts of Graz, a 54-year-old Styrian repeatedly made a name for himself with "innovative" business ideas. During the pandemic, for example, he had millions of protective masks flown in from China and made good money with them. However, his main business has always been the investment sector.

Promising returns of up to 300 percent
Together with a partner, he founded a cryptocurrency platform based in Dubai in 2019 that promised investors a return of up to 300% in a short space of time.

Millions of people around the world saw this as their chance to make a lot of money quickly. But this never happened. According to several media reports, the loss is said to amount to a total of four billion US dollars (!).

Three different hotel rooms booked
When the handcuffs clicked for his Swedish business partner in Turkey this July, things got really tight for the Styrian. Nevertheless, as reported in Turkish newspapers, he traveled to the Bosporus at the end of August to visit his former partner in Istanbul's Maltepe prison. However, the police were already hot on his heels.

Although he had booked rooms in three hotels in different parts of the city, the Austrian was arrested by special forces from the Turkish police and intelligence service at the beginning of September. According to the daily newspaper "Takvim", the man is said to have tried to delete data from his phone. Apparently in vain.

Turkish media reported extensively on the arrest of the Styrian.

(Bild: Krone KREATIV/Stock Adobe)

"We can confirm the arrest of an Austrian citizen in Istanbul," said the Foreign Ministry in response to an inquiry from "Krone". "Our Consulate General in Istanbul has been in contact with the relatives of the person concerned and the local authorities since the arrest became known."

Hundreds of bamboozled investors are said to have taken legal action against the Graz-based platform (he is presumed innocent). The suspected billion-dollar fraudster is now in custody awaiting trial.