US Charges Two Men Over Alleged OmegaPro Crypto Fraud Scheme Promising 300% Returns

Key Points

1. OmegaPro operated between 2019 and 2023, promising investors a 300% return over 16 months through foreign exchange trading, but the model was unsustainable.

2. Investors were encouraged to purchase investment packages using cryptocurrency, complicating fund traceability and facilitating the alleged fraud.

3. The scheme used deceptive marketing tactics, including high-profile displays like the OmegaPro logo on the Burj Khalifa, to attract investors.

4. In January 2023, OmegaPro claimed a network hack and transferred funds to a new platform called Broker Group, further obscuring the trail of stolen funds.

5. OmegaPro co-founder Andreas Szakacs was arrested in Turkey in mid-2024, highlighting the global scale of the fraud and the challenges regulators face in policing cross-border crypto crimes.