Spanish Crypto Influencer Álvaro Romillo Jailed Over $300M Fraud Case

Simran

Crypto influencer Álvaro Romillo arrested in Spain over $300M Ponzi scheme through Madeira Invest Club.

Over 3,000 investors defrauded with false 20% returns on luxury assets, real estate, and crypto deals.

Authorities found €29M in a Singapore bank account, raising flight risk concerns.

Police seized 27 luxury cars and uncovered links to political donations and offshore accounts.

Romillo faces up to 18 years in prison as Spain cracks down on unregulated crypto frauds.

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