Following an investigation that started in 2016, Norwegian authorities have laid expenses towards 4 Crypto 888 Membership Ponzi scammers.
As reported by DN on February seventh, the accused are:
Terje Hvidsten (proper), aka Aleksander Romanov – convicted serial fraudster who’s already in jail since early 2024 on separate legal expenses- Dag Haetta Eriksen, aka Dag Verner Eriksen – one other serial fraudster with prior convictions
- an unidentified 52-year previous from Romerike “who calls himself a craftsman” – charged with laundering 306 million kroner by means of a Hong Kong shell firm (~$27 million USD)
- an unidentified 70 12 months previous former lawyer – charged with helping Crypto 888 Membership scammers launder 768 million kroner (~$69 million USD)
BehindMLM reviewed Crypto 888 Membership in 2015, appropriately figuring out it as an MLM crypto Ponzi constructed round “octacoin”.
Crypto 888 Membership was fronted by Hvidsten’s alterego Aleksander Romanov.
Romanov was offered as a gaming tycoon who owned “over 1000 betting retailers and three casinos, primarily in japanese Europe”.
In January 2016, Hvidsten’s ex-wife turned up in BehindMLM’s feedback to say;
Terje Hvidsten has been in jail 9 occasions in Norway and Germany, he lives in Ski, Norway.
Final 12 months he acquired 5 years in jail for youngsters abuse and Freud/enterprise rip-off. He’ll begin his new sentence later this 12 months.
He along with Dag Verner Eriksen (additionally been in jail a number of occasions in similar rip-off case/freud as Jarle Thorsen), use a legal lawer [sic] ; Petter Forsberg to cash laundering/switch the cash around the globe.
It’s extremely most likely Petter Forsberg is the unnamed arrested former lawyer however at time of publication this stays unconfirmed.
As to the unidentified “52-year previous from Romerike”, a BehindMLM reader tipped me off to Pål André Børsting Berntsen.
Enterprise data reveal Berntsen registered himself as a craftsman from Ullensaker in 2023. Ullensaker is a part of Romerike.
Berntsen was additionally born in 1972, making him 52 if he hasn’t had his birthday this 12 months.
Pertaining to the Norwegian legal expenses, a BehindMLM reader cited Berntsen as Crypto 888 Membership’s Chief Working Officer in 2016.
Extra Scandinavian fraudsters of word who promoted Crypto 888 Membership embody Frode Jorgensen (far left) and Rocco DiBenedetto (far proper):
Jorgensen, at present working the Daxio Ponzi scheme from the Philippines, and DiBenedetto joined Crypto 888 Membership after their Bidify Ponzi scheme collapsed.
By late 2016 Crypto 888 Membership had collapsed twice. BehindMLM documented a 3rd reboot as Nano Membership in September 2016.
Nano Membership collapsed in late 2017, prompting a fourth reboot as Nano Crowd.
Previous to the Norwegian Crypto 888 Membership arrests;
Norwegian authorities declare “a number of thousand” documented Crypto 888 Membership victims are primarily from China, Belgium, Sweden and the Netherlands.
Complete Crypto 888 Membership sufferer losses are pegged at 968 million kroner ($87 million USD), a big quantity of which stays unaccounted for.
The indictment states that Hvidsten has had 72 million kroner at his disposal. Of this, Økokrim believes he has withdrawn 57 million kroner, of which round 11 million was used to switch to pay as you go Credit cards for himself and others.
He has additionally used a part of the proceeds to purchase an residence in Spain and several other automobiles, together with a Vary Rover.
As well as, Hvidsten is alleged to have used a part of the cash to repay private money owed and make funds to household.
In line with the indictment, the previous lawyer obtained 8.6 million kroner for his providers, whereas the 52-year-old from Romerike obtained 12 million kroner, which he’s accused of getting transferred in so-called self-laundering.
The Crypto 888 scammers have pled not responsible with the case “scheduled for Oslo District Court docket in September”.