Raids in Kosovo

Investigators strike a blow against investment fraudsters

The Bavarian authorities have struck a blow in the fight against investment fraud on the Internet. A network based in Kosovo is alleged to have defrauded investors from Germany and other countries of millions of euros.

Last week, 14 properties in Pristina and Ferizaj were searched together with the Kosovan judicial and police authorities. 20 people were provisionally arrested, the police announced on Wednesday.

Investigations have been underway since spring 2023 - prompted by numerous criminal complaints: People had invested large sums of money on alleged trading platforms on the internet in the hope of making high profits. In reality, the money ended up in the accounts of fraudsters, the report continued.

The suspects are said to have been active in this field since 2017 at the latest and operated numerous fraudulent trading platforms.

Millions in losses caused
The authorities have received around 350 reports from victims in Germany. The total loss is likely to be in the mid double-digit million range. However, the investigators are assuming a high number of unreported cases. The largest single loss to date has been suffered by an investor from North Rhine-Westphalia. She is said to have lost almost 1.9 million euros within nine months in 2020.