A criminal investigation has been launched in Barcelona’s Fifth District Court into a cryptocurrency and NFT scheme that allegedly defrauded investors of millions. The probe centers on a company that promoted digital tokens and non-functional NFTs, leaving thousands with worthless assets after the firm abruptly ceased operations.
Reports indicate that six prominent footballers are facing fraud allegations in connection with their promotional involvement with the company. While they are not accused of direct sales or strategic roles in the operation, their alleged endorsement of the venture has led to their inclusion in the legal complaint.
$3.4 million fraud
The case, filed by 12 alleged victims earlier this year, accuses the company of defrauding investors out of at least $3.4 million (€3 million). The scheme involved the sale of NFTs purportedly tied to footballer image rights, which were purchased using the company’s proprietary digital token. The complaint alleges that these “goods” never materialized on the market as the company shut down before production was complete.
The investigation is focusing on the heads of the company, who are facing charges of fraud among others. The unfolding situation highlights the risks associated with investments in speculative digital assets and the potential legal repercussions for individuals, even those in promotional roles, when such ventures collapse.
