Behind the scam: how an alleged criminal network set a trap for thousands of Europeans to fall for ‘fake’ investments and raked in millions

Maxence Peigné, Sasa Dragojlo, Nico Schmidt, Pascal Hansens, Aleksandar Djordjevic, Ivana Jeremic, Ana Curic, Svetoslav Todorov EU Observer 30 September 2025

A suspected scam network operating out of Serbia duped an estimated 70 000 people worldwide into making bogus investments, profiting €250m in the process.

The transnational scheme involved a former Premier League team sponsor and a convicted money launderer.