Fnalysis.
Fake Headquarters
Spain's Civil Guard busted a crypto scam ring whose money ended up in a company registered in an Indian Ocean archipelago, actually run from Asia, with an entirely remote staff
Spain's Guardia Civil dismantled a crypto investment scam ring in Palencia as part of Operation "Jecay," seizing $1.2 million and investigating six people. Two victims from Palencia lost 278,000 euros after a fake phone "financial advisor" convinced them to install remote-control software on their own devices.
Tracing the money's final destination, investigators reached a single company registered in an Indian Ocean archipelago, actually operating out of East Asia, staffed entirely by remote workers. More than $1.2 billion passed through its accounts in a single year, entering and leaving within seconds, with no real financial logic behind it.
Source: El Debate →Registered address in the Indian Ocean, accounting nowhere at all.