The plaintiffs of the lawsuit number 300 people, although every day their number reaches a new peak. The firm filing the complaint is also suing on behalf of the Investors Association.
The first macro complaint (an accusation that faces its introduction right before a competent judge or court) presented in the National Court of Spain appeared in public by different media in Spain. The accusation goes against the citizen Javier Biosca Rodríguez due to the commission of an alleged scam for EUR 250 million in cryptocurrency investments.
According to the Spanish newspaper Cinco Días, the lawsuit took place on March 17, but it was not until April 9 that it went to public knowledge. This situation occurs because it was waiting for the deadline to deliver contracts and other documents for the accusation’s admission in the Central Court of Instruction No. 1.
The plaintiffs in the complaint sum at least 300 people with positions as domestic workers, retirees, the unemployed, notaries, a judge, lawyers, tax inspectors, and owners of small businesses.}
The Law Firm of Emilia Zaballos is in Charge of all the Positions
These positions are receiving a representation of the law firm of Emilia Zaballos, who is also president of the AICC (Association of Investors Affected by Investments by Cryptocurrencies).
The lawyer signed such a complaint as part of private accusations of 300 affected on behalf of AICC. He adds that, although “for now there are 300, the number of applicants is growing day by day.”
According to the lawyer, the alleged scam of EUR 250 million “could exceed 3,000 million euros, taking into account the prices that these digital currencies can reach.”
Biosca and Its 19 Investors Reached 3,000
Javier Biosca Rodríguez’s business began in 2019 with the purchase and sale in real-time of cryptocurrencies such as bitcoin and litecoin. At that time, the defendant offered 19 people, including his neighbors, a weekly interest of 20 to 25% in profits.
Investors for a long time received such interests. Business’s exciting position and the granted benefits through word of mouth made Biosca gain between 300 and 500 investors even after having lowered the interest to between 10 and 8% weekly.
At that time, the accused also said he was a broker. However, his alleged firm Algorithms Group was never registered with the CNMV (National Securities Market Commission), as confirmed by the Commission on April 8.
Biosca kept along with his business. That same year (2020), according to the Confilegal newspaper, he moved with his family to a mansion in Marbella, where in August, he held the “bitcoin party” to keep catching more clients.
Together with his wife, Paloma Gallardo Leal, and his son, Sergio Biosca Gallardo, they got to manage more than 3,000 investors. These people also worked a significant amount in euros through the business. All of these operations happened manually; they only used one computer.
By: Jenson Nuñez
