Gümülcine linked to Greek crypto investment fraud investigation

Greek police have dismantled an alleged criminal organization accused of recruiting at least 10,000 people into a cryptocurrency investment scheme that reportedly raised around $8 million, with police searches also conducted in Gümülcine (Komotini).

Greek police have arrested 17 people in an investigation into an alleged criminal organization that operated a cryptocurrency investment scheme promising investors exceptionally high returns, including doubling their initial capital within 50 days.

The operation also included searches in Gümülcine (Komotini), alongside several other Greek cities. Local media reported that one person was detained in connection with the operation in Gümülcine, although the Greek police's official statement did not specify the number of arrests made in the city.

Police said the organization had recruited at least 10,000 people and that approximately $8 million had flowed into the platform. Investigators allege that the network operated as a pyramid-style scheme, using promises of guaranteed or near-zero-risk returns to attract new investors.

INVESTORS WERE PROMISED TO DOUBLE THEIR MONEY IN 50 DAYS
According to the investigation, members of the organization promoted cryptocurrency investments through a system presented as providing exceptionally high returns.

Potential investors were allegedly told that their initial capital could be doubled within 50 days and that the investments involved little or no risk.

Police said the organization used apparently legitimate corporate structures and an online platform to make the operation appear lawful.

Investigators also allege that members recruited new investors in exchange for commissions, while money from newer participants was transferred to people who had already joined the network.

The scheme was reportedly operating by at least 2025.

AI ASSOCIATION USED TO GIVE SCHEME A LEGITIMATE APPEARANCE
According to the investigation, those involved established an organization called the “Hellenic Artificial Intelligence Team Association – AT Team Greece” as part of efforts to give their activities a legitimate appearance.

The group reportedly established branches or offices in Larissa (Yenişehir), Katerini, Peristeri, Kanalaki in Preveza and Mytilene.

Police allege that the organization used the association and related activities to build credibility while continuing to promote its investment system.

SEARCHES CONDUCTED IN GÜMÜLCİNE AND OTHER CITIES
A coordinated police operation was carried out on September 30 in Pieria, Larissa, Mytilene, Patras, Ioannina, Piraeus, Gümülcine (Komotini), Preveza, Athens and Kavala.

Authorities searched five offices, nine homes and other locations.

Police said they seized €295,090 in cash, 32 mobile phones, 38 portable storage devices, 16 data-storage drives, 21 laptops, seven desktop computers and 15 tablets. Bank cards, SIM cards, documents and other digital material were also seized.

According to local reporting, a search was conducted in Gümülcine and one person was detained there. The official police statement confirms Gümülcine as one of the locations included in the operation but does not provide a city-by-city breakdown of arrests.

18 ALLEGED VICTIMS IDENTIFIED
During the preliminary investigation, police identified 18 alleged victims who had invested a combined €55,970 through the platform.

The investigation estimates that at least 10,000 people had been recruited into the wider network, while the total funds that entered the platform were approximately $8 million.

Greek police said 17 people were arrested, including two alleged leaders, while a case file was also compiled against nine additional people.

The suspects were taken before the prosecutor at the Katerini Court of First Instance and referred to an investigating judge. The investigation remains ongoing.

Source: Hellenic Police; local reporting