Man Arrested in Rome Over €50M Forex and Crypto Scam Targeting German Investors

According to the report, an Israeli national has been arrested in Rome in connection with a sprawling €50 million forex and cryptocurrency investment scam that allegedly defrauded hundreds of investors across Europe, including victims in Germany, Austria, and Switzerland.

The man, said to be in his 30s, was detained at Romes international airport after Interpol issued an arrest warrant at the request of German authorities. According to Italian media reports cited by Israeli outlet Mako, airport police apprehended the suspect during a routine passport check as he prepared to board a flight for what he described as a combination of vacation and business meetings.

A Cross-Border Fraud Scheme

Authorities say the arrest follows a lengthy investigation into a network of fraudulent online trading platforms. The schemes reportedly promised high returns through forex and cryptocurrency investments but instead siphoned investor deposits into an organized web of shell companies and offshore accounts.

Investigators believe the operations targeted German citizens as their primary victims, though substantial losses were also reported in Austria and Switzerland. A source familiar with the case told local media the suspect appeared unaware of the warrant and the international investigation until the moment of his arrest.

Links to a Cyprus-Based Company

Early findings shared with the media indicate the individual may be employed by a large Israeli-owned company headquartered in Cyprus. The firm is said to have extensive operations in Western Europe, particularly in Germany, Austria, and Switzerland—the same regions hit hardest by the fraudulent schemes.

While the companys name has not been publicly disclosed, investigators allege that several of its employees and executives could be implicated. The arrest in Rome is expected to accelerate the probe and may lead to additional detentions as authorities trace the organizational structure behind the scam.

More Arrests Expected

Law enforcement sources say the current arrest is only the first step in dismantling what they describe as a coordinated, professionally managed investment fraud network. German prosecutors, working alongside Italian authorities and Interpol, are now expected to pursue further suspects believed to have participated in or facilitated the scheme.

If extradited to Germany, the man could face charges related to financial fraud, money laundering, and operating unlicensed investment services—offenses that carry significant prison terms under EU law.

The investigation remains ongoing as authorities continue tracing funds, interviewing victims, and gathering evidence across multiple jurisdictions.