Madeira Invest Club’s €260M Crypto Fraud Leads to Arrest
Spanish investigators have taken down what they describe as one of Europe’s largest crypto-related scams, arresting alleged ringleader Carlos Romillo, who is accused of orchestrating the Madeira Invest Club – a network that promised extraordinary annual returns of up to 20% to investors across Europe and Latin America.
Behind the polished image of an exclusive financial club, the operation functioned as a Ponzi scheme, recycling new deposits to pay older members. Authorities believe over 3,000 people were duped, collectively losing more than €260 million ($300 million). Many victims were retail investors drawn in by slick marketing campaigns, social media endorsements, and promises of “guaranteed passive…
