Arrested in Croatia for crypto fraud worth 18,5 million euros

Most of the investors have filed criminal charges against the owners, as they have not been heard from since May of this year

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Illustration, Photo: Shutterstock
Illustration, Photo: Shutterstock
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

Three people were arrested in Croatia on suspicion of defrauding hundreds of citizens who invested in and traded in cryptocurrencies, and the material damage is estimated at at least 18,5 million euros, the Primorje-Gorski Kotar police announced today.

At a press conference in Rijeka, it was said that the director, procurator and employees of the company in the Rijeka area, aged 30, 36 and 37, are suspected of fraud.

The criminal investigation established reasonable suspicion that from 2018 to May 2023, with the aim of obtaining illegal property benefits for themselves and their relatives, they led and kept a large number of clients-investors of their company in error by falsely presenting and concealing facts.

The police did not mention the names of those arrested, but the media previously announced that the owners of the failed cryptocurrency trading company "Bitlaki" (BitLucky) Luka Burazer and Eugen Travalja were arrested yesterday.

At the end of August, the investors of the cryptocurrency trading company "Bitlaki" warned that the case had been going on for months without any progress and pointed out that it was the biggest crypto fraud in this region.

Most of the investors have filed criminal charges against the owners, as they have not been heard from since May of this year.

The last time Burazer contacted them by email was on May 18, when he informed them that he had "brought the company into a state of crisis".

Since then, all traces of him have been lost, and on July 30 he gave an interview to Jutarnji list in which he rejected the accusations, but did not reveal his location, Croatian media reported.

The police stated at the press conference that several hundreds of injured people have been registered so far from the area of ​​Primorsko-Goranska and other counties.

The material damage was estimated at at least 18,5 million euros, and the victims invested in cryptocurrencies from several thousand to several hundred thousand euros.

As part of the criminal investigation, by order of the investigating judge in Rijeka, the homes and vehicles of the suspects were searched, computers, various IT equipment, mobile phones and various documents were confiscated.

Their firm was not registered for cryptocurrency trading.

The investigation is still ongoing.

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