Serial MLM crypto scammer Nicholas Coppola has been arrested in Italy.
Coppola had been hiding out in Dubai…
…however seems to have wished to spend Christmas and the brand new yr in his native Veneto.
Coppola was arrested by Italian monetary police in Veneto on December twenty eighth.
As reported by Corriere del Veneto on December thirtieth, Coppola’s arrest follows “quite a few grievance for fraud” from “dozens of Veronese”.
The investigation was led by the Veronese Public Prosecutor’s Workplace and Financial and Monetary Police Unit.
Coppola (proper) is accused of utilizing social media to advertise unlawful cryptocurrency funding schemes.
BehindMLM got here throughout Coppola as an insider of the collapsed Meta Utopia Ponzi scheme in 2022.
Coppola’s makes an attempt to cover his affiliation with Meta Utopia earned him a spot on BehindMLM’s DMCA Wall of Disgrace.
Italian Public Prosecutors allege Coppola,
as a speaker, in conferences on the subject of digital forex, throughout which he illegally proposed and positioned monetary funding services.
By means of his illicit conduct, the ” promoter “, additionally with the assistance of different compliant topics , equally below investigation, misled savers by way of funding proposals at extraordinarily favorable situations, promising them a ” secure ” and big return “.
In accordance with the investigators, nevertheless, “the negotiation of the investments truly befell within the absence of the authorizations required by the Consolidated Finance Act”.
What number of of Coppola’s accomplices are additionally below investigation is unclear.
Collectively nevertheless, Coppola and his accomplices are believed to have stolen upwards of €500,000 euros.
Following his arrest, Coppola has been launched to residence detention. CONSOB, Italy’s prime monetary regulator, has additionally seized Coppola’s digital gadgets.