Crypto king being investigated for 280 million euro fraud found dead in Spain
Javier Biosca, the broker who was being investigated for the biggest crypto currency fraud in Spain of 280 million eruos, was found dead yesterday morning (Tuesday) in Estepona on the Costa Del Sol, after accidentally falling from the balcony of an apartment he was staying at.
Biosca was staying in a complex of apartments on a golf course accompanied by his wife and his son, and initially, the investigation does not point to the involvement of third parties in his death.
According to the police report, he apparently went out onto the terrace at around 11.15am, and accidentally fell to his death. The National Police are investigating the circumstances.
His body was discovered by a worker on the complex who heard a thud, and found Biosca's body on the floor below his apartment and raised the alarm.
Sources close to the cryptocurrency fraud case reported that Biosca had been detained by police approximately three weeks ago due to a legal claim. He was due to make another visit later this month to the courts that are investigating his case.
The rise and fall of Javier Biosca:
Biosca was first arrested in June 2021 during a routine Guardia Civil check. When officers entered his data into the computer, they realised that he had an arrest warrant against him as he was being investigated for a crypto scam with an estimated value in excess of 280 million in bitcoins.
The complaint was filed in a Galician court by lawyers on behalf of the injured parties. In a matter of weeks, the victims multiplied to over 600 people, with judges, notaries, and Treasury inspectors among the scammed investors.
Biosca had presented himself on social media as the manager of a company dedicated to online marketing since 2010, but in 2019 he began to recruit potential partners to invest in cryptocurrencies, promising to return profits of between 20 and 25% weekly. However, he later lowered this guarantee to 10%.
In a short time, he had over 500 investors and decided to move from Toledo to Marbella to look for clients with greater purchasing power. In his mansion, he had four safes and a panic room installed, in addition to surrounding himself with a security team.
Everything indicated that the stockbroker was at the top of his game, and had some investors who put up to 20 million euros in his hands for the acquisition of bitcoins, according to the lawyers, and others who gave him their life savings. But at the end of 2020 Biosca began to fail to deliver on his profitability promises and then his empire began to crumble.