- NBA and Nike extend partnership deal for 12 years
- Israel strikes 300 Hezbollah targets as US urges war's end
- Tourist dreams turn sour after Cuba lights go off
- Italy PM seeks to save Albanian migrant deal amid spat with judges
- Tagovailoa returns to NFL practice Wednesday after concussion
- US infant mortality spiked after right to abortion overturned: study
- Blinken back to Middle East to push for Gaza truce
- Neymar returns for Al Hilal in Al Ain thriller
- TGL set for January start as Woods-McIlroy might meet Jan. 27
- US Grand Prix - three things we learned
- Welsh rugby's future more important to Gatland than saving his job
- Venezuela arrests ex-oil minister accused of US links
- President Biya lands back in Cameroon after health rumours
- Watson out for NFL season with ruptured Achilles tendon
- Disney expects to name Iger's successor in early 2026
- Emery wants to 'break barriers' at transformed Aston Villa
- Hezbollah-linked financial firm an economic lifeline for Lebanese
- London trial probes 2015 Brazil mine disaster
- Police in Mozambique disperse vote protest
- Ancelotti wants goals over pressing from Madrid star Mbappe
- Major crypto, diamond fraud trial opens in France
- Electricity restored to 50% of Havana after nationwide blackout: Cuba state media
- How much aid is getting into Gaza?
- King Charles caps Australia trip with Opera House bash
- England's Buttler out of West Indies ODI series
- Moldova president hails EU referendum win after Russia meddling claims
- Van Dijk talking to 'right people' over Liverpool contract
- Vietnam's top leader pushes anti-corruption fight
- Arteta urges Arsenal to use Bournemouth 'pain' against Shakhtar
- Rabada fastest to 300th Test wicket, as Bangladesh all out for 106
- Erdogan rival Gulen dies in exile at 83
- Man Utd's Ten Hag relishing Europa League clash with Mourinho
- Amnesty says migrant workers exploited at Carrefour Saudi stores
- Fethullah Gulen: ex-Erdogan ally who became public enemy number one
- Seoul demands 'immediate withdrawal' of North Korean troops in Russia
- WHO to evacuate 1,000 Gazan women, children for urgent medical care
- Erdogan's rival Fetullah Gulen dies in exile aged 83
- Gauff-led USA pitted with Canada at season-opening United Cup
- Sanofi pursues sale of painkiller after political controversy
- Rabada takes 300th wicket as Bangladesh stumble to 60-6 at lunch
- Alpacas, hecklers and climate warnings: King Charles visits Australia's capital
- Sartorially suave alpaca sneezes on King Charles
- In a first, France welcomes Russian army deserters
- Dodgers beat Mets to set World Series showdown with Yankees
- Liberty rally to top Lynx in overtime for WNBA title
- US, Canada warships pass through Taiwan Strait
- Asian markets fluctuate as traders digest China rate cut
- Naomi Osaka season over because of injury
- Toll from attack in India-controlled Kashmir rises to seven: reports
- Simmering Bellingham set for Dortmund reunion in Champions League
RBGPF | 1% | 61.11 | $ | |
CMSC | -0.53% | 24.65 | $ | |
RYCEF | -0.68% | 7.4 | $ | |
SCS | -0.93% | 12.89 | $ | |
BTI | -0.73% | 34.25 | $ | |
RIO | -0.63% | 64.95 | $ | |
AZN | -1.06% | 77.44 | $ | |
GSK | -1.02% | 38.16 | $ | |
BP | 0.44% | 31.47 | $ | |
RELX | -1.13% | 47.63 | $ | |
VOD | -1.35% | 9.63 | $ | |
BCE | -0.45% | 33.39 | $ | |
NGG | -1.45% | 67.03 | $ | |
BCC | -2.78% | 137.9 | $ | |
CMSD | -0.68% | 24.87 | $ | |
JRI | -0.53% | 13.15 | $ |
Major crypto, diamond fraud trial opens in France
A trial opened in a French conference centre on Monday, with more than 20 defendants accused of defrauding 1,300 individuals with fake cryptocurrency and diamond investment schemes, as well as swindling top football clubs.
Some 28 million euros ($30 million) were allegedly stolen in the case, dubbed "red card" because of the dozen football clubs among the plaintiffs.
Some 850 of the victims are represented at the trial which had to be moved to the conference centre in the eastern French city of Nancy because there were too many for a traditional court. Hearings are set to last four weeks.
The defendants, between 28 and 73, are accused of running websites offering fraudulent investment opportunities in diamonds or cryptocurrencies between 2016 and 2018.
One person handed over 400,000 euros believing they were investing in diamonds and what was advertised as a "diamond savings plan".
Some investors lost big chunks of their savings or even contracted loans to invest, attracted by a promise of large annual returns, said Colman, a law firm representing around 100 plaintiffs.
"We believe this trial marks a strong signal in the fight against international financial fraud," the firm said in a statement.
The accused opened 199 bank accounts in 19 countries to receive and transfer funds, according to investigators. Some 2.8 million euros were recovered and could be used to compensate victims.
A side business for the alleged fraudsters was swindling money out of French football clubs.
Individuals based in the southern city of Marseille and in Israel pretended to be agents acting on behalf of professional players. They said the players had changed their banking details and salaries should be sent to the new accounts.
Around 10 top clubs were targeted, with Sochaux, Angers and Toulouse falling for the scam and handing over around 60,000 euros.
The 22 defendants -- including three who are still at large and are being tried in absentia -- have varying degrees of implication in the fraud, prosecutors said.
About 12 are charged with "criminal conspiracy", notably for allowing their names to be used to open bank accounts through which funds were channelled across Europe and to Israel.
Others are accused of "fraud committed in a gang", most of them for building fake websites or ordering fake diamonds.
P.Queiroz--PC