The US Department of Justice has formally charged two individuals involved with the OmegaPro cryptocurrency investment fraud scheme. Authorities allege the operation defrauded global investors of approximately $650 million by promoting unsustainable 300% returns and using deceptive marketing tactics.
Operating between 2019 and 2023, OmegaPro falsely promised investors a 300% return within 16 months through purported foreign exchange trading. Investigators confirmed the business model was fundamentally unsustainable. Participants were instructed to purchase investment packages using cryptocurrency, intentionally complicating fund traceability and facilitating the large-scale fraud.
The scheme employed aggressive promotion strategies including high-profile displays such as projecting the OmegaPro logo onto Dubai’s Burj Khalifa to falsely imply legitimacy and attract victims. After claiming a network hack in January 2023, operators abruptly transferred funds to a new platform called Broker Group, further obscuring the trail of stolen assets.
Co-founder Andreas Szakacs was arrested in Turkey in mid-2024, exposing the scheme’s global reach and highlighting ongoing regulatory struggles to police cross-border cryptocurrency crimes. The case underscores persistent challenges in combating fraudulent crypto investment platforms targeting unsophisticated investors.