The Financial Crime Investigation Unit (FCIU) of Seychelles Police has issued a statement confirming the official receipt of a petition to carry out a thorough investigation into several transactions associated with the transfer of 230,000 bitcoins. And according to sources, the crypto is believed to be linked with the Onecoin pyramid scam.
Onecoin Robbery in Dubai
Apart from having to investigate the transfer of the crypto assets, this police investigation will also be looking to properly scrutinize transactions involving cash and property totaling about $10 billion in worth. The receipt of the investigation petition by the FCIU is not unrelated to a recent discovery of nearly $500 million worth of Onecoin loot spread across bank accounts in Dubai, according to the Seychelles News Agency.
This shocking revelation is what has prompted individuals and business entities who have already fallen victims to the pyramid scheme to file probe requests against Onecoin in London, Dublin, and Brussels.
The Seychelles News Agency has also reported that the head of legal affairs for FCIU, Tania Potter has revealed the step-by-step process that the agency is planning to take before making its decision.
Potter explained that although the agency has received countless documents included as part of the complaints, some of the documents still need to be thoroughly verified in order to be able to confirm any links to Seychelles if there ever is. It is only upon completion that a decision on what step to take next will be made. Most likely, the next step will be to inform the Onecoin victims, according to Potter.
Problems associated with investigating crypto crimes
Potter has also been able to outline some of the difficulties that law enforcement agencies usually encounter in cases like this. Especially trying to investigate crimes that seem to have been committed outside the borders of Seychelles but by businesses that are situated in the tiny island nation.
Speaking further, Potter claimed that the individuals who may have been defrauded mostly did invest with an International Business Company. And while IBC is registered in Seychelles, transactions do not in any way happen in the country so it becomes a tough task trying to go after such a person who has either aided or committed the crime, she said.
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