Javier Bosca was accused of being behind the biggest cryptocurrency scam in Spain with damages of around 500 million euros.
Javier Biosca, the alleged author of the biggest cryptocurrency scam in Spain, was found dead on Tuesday. The businessman of the group Algorithmics was released from prison in October after depositing a bail of one million euros.
Javier Biosca was accused of continuing fraud, misappropriation and falsehood in a public document. Legal sources have informed of his death. All these crimes would have been perpetrated through Algorithmics Group to attract private investors who wanted to obtain high interests in the market of these currencies since 2019.
The damage of the scam would be around 500 million euros and there would be more than 750 injured. The largest crypto-scam in history in Spain. The lawyer Emilia Zaballos, who represents the Association of Affected by Investments in Cryptocurrencies, sent an urgent note to the Court on Tuesday. In that letter she sought to inform the magistrate of the news of the death.
The representation of the broker and defendant, as detailed in the brief, has explained to the lawyer that Biosca committed suicide in the town of Estepona by throwing himself from a fifth floor, in the presence of several witnesses.
In the event of the death of the person under investigation, both action and criminal liability are extinguished. Both the Criminal Procedure Act and the Criminal Code provide for this. The judge is also investigating the wife and child of the deceased this Tuesday.
The first investigator of the case decreed prison without bail for Javier Biosca for his involvement in this scam of 250 million euros with cryptocurrencies. The magistrate ordered his accounts and deposits to be blocked. The broker then pointed out that he had received death threats and that this led him to disappear.