Spanish Crypto Influencer Arrested in $300 Million Fraud Scheme
A Spanish crypto influencer was arrested for running a $300 million Ponzi scheme called Madeira Invest Club, affecting over 3,000 victims.Summary
Spanish authorities arrested a crypto influencer, Romillo, on November 6, 2025, as part of Operation PONEI, dismantling one of Europe's largest crypto-related pyramid schemes, which defrauded over 3,000 victims globally.
The scheme, known as the Madeira Invest Club (MIC), operated since early 2023, promising investors annual returns between 20% and 53% through investments in luxury assets and digital art, but was found to be a classic Ponzi scheme with no real business activity.
The investigation uncovered an international criminal network involving 52 shell companies and 106 bank accounts across numerous jurisdictions. Romillo was denied bail due to flight risk, highlighted by a €29 million Singapore bank account. The case also revealed a political dimension, as Romillo admitted giving €100,000 in cash to far-right MEP Luis Pérez Fernández. Authorities seized significant assets, including multiple luxury yachts and properties, while noting that the CNMV had previously warned about MIC in 2023.
(Source：Brave New Coin)