The collapsed PrivaFund Ponzi scheme is underneath prison investigation in Austria.
As reported by Kleine Zeitung again in October, the Financial and Corruption Public Prosecutor’s Workplace is analyzing ties between PrivaFund and EXW Pockets.
EXW Pockets was an MLM crypto Ponzi scheme run by co-founders Benjamin Herzog, Manuel Batista and Pirmin Troger.
All three co-founders have since been arrested and charged. Herzog’s prison trial is at the moment taking part in out in Austria. Proceedings towards seven different defendants stay pending.
Talking on the investigation, Public Prosecutor’s Workplace spokesperson Rene Ruprecht said;
We’re at the moment conducting an investigation into fraud towards ten defendants.
Aside from affirm the investigation nevertheless, no additional particulars had been offered.
As reviewed right here on BehindMLM in 2021, PrivaFund solicited funding on the promise of a passive return.
PrivaFund was fronted by a US actor who claimed to be dwelling in Thailand.
PrivaFund’s web site nevertheless was hosted in Germany. German was additionally the default language for PrivaFund’s backoffice.
This would seem to suit with EXW Pockets’s German-speaking admins additionally working the PrivaFund.
When precisely PrivaFund collapsed is unclear. Advertising and marketing movies started disappearing in late 2021, suggesting PrivaFund’s collapse would have been across the similar time.
PrivaFund investor losses have been preliminary pegged at round 20 million euros.