Spanish Civil Guard Investigates Scam Involving Fake Cryptocurrency Investments

• In some cases, the suspects simulated profits exceeding one million euros.
• The charges they could face include fraud, embezzlement, and document forgery.

The Civil Guard has investigated four members of the same family in Cáceres, a province in western Spain, for allegedly defrauding nearly 700,000 euros from several victims. The scheme was executed through fake investments in cryptocurrencies, as reported by the armed institute yesterday, September 28, 2026.

The network of deceit was built on the social credibility that the involved parties gradually constructed. According to the police force, the suspects sought to consolidate investors' trust through public displays of wealth.

To achieve this, they simulated profits through bank statements, photographs, and videos, and organized events and international trips to win the trust of their victims, the institution detailed.

This complex plot began to unravel after a formal complaint was filed by one of the affected individuals in September 2025. According to official information, the victim exposed a fraudulent scheme dating back to 2024. > This individual had handed over a significant sum of money to a person through various transfers to make investments in cryptocurrencies.

Following this initial testimony, agents initiated a series of inquiries that revealed the magnitude of the scheme. As the investigation progressed, the detectives identified more victims and discovered that the money receiver used different bank accounts belonging to various members of the criminal group to divert and conceal the funds raised.

To sustain this flow of capital, the involved parties required a financial infrastructure for fundraising. In this regard, the police institution noted that the money receiver used over 90 bank cards from different entities to receive and move the money obtained through the deceptions committed against the complainants.

Locally, Civil Guard agents found that one of the members of the criminal group exploited social proximity with neighbors in a municipality located north of Cáceres to execute the scams. Once they obtained money from their acquaintances, they simulated that the investment in cryptocurrencies had been successfully made.

To maintain this farce over time, visual forgery played a key role in the deception, according to the investigators. The main suspect used bank statements, photographs, and videos corresponding to the supposed profits obtained. In some cases, these bank statements simulated fictitious returns exceeding one million euros.

Subsequently, when the victims attempted to withdraw their capital, the perpetrators requested new payments under the pretext of unlocking the accounts and recovering the generated benefits, according to information provided by the authorities. In this way, the scammers sought to further exploit the economic capacity of the affected individuals.

To instill greater legitimacy in these financial demands, the armed body specified that the suspects even used the names of different law firms without their consent and forged official documents to lend credibility to the money requests.

Alongside these documentary tricks, investigators indicated that family members made various international trips and organized large events, publicizing them among the neighbors. The intention was to showcase fictitious solvency and make them believe that the funds came from profits obtained from their own investments.

As a result of the actions, three men and one woman have been investigated for the alleged commission of crimes of fraud, embezzlement, document forgery, usurpation of civil status, money laundering, and belonging to a criminal group.

This incident adds to other recent operations by the Civil Guard linked to cryptocurrencies in Spanish territory. As reported by CriptoNoticias, the security agency arrested two individuals in Barcelona and Guipúzcoa for allegedly assaulting a man in Alicante to rob him of a haul of 20,000 euros in cash, gold, and altcoins.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.