Two members of an international criminal gang were convicted of fraud in Germany on Tuesday and sentenced to 4.5 years in prison.
The Nuremberg court ruled that the two men were part of a network that had victimised dozens of people by making false investments. The pair, who confessed their guilt, managed to steal more than €23 million.
Arrested in the Bulgarian capital, Sofia, the two were part of a network that was able to convince people to make large investments through professional-looking websites. The promise of profits and large payouts turned out to be false and most of the money invested vanished.
Investigators have not yet been able to identify all those involved.
One of the two scammers, a 28-year-old man, was convicted of 472 counts of commercial and organised fraud and had €168,200 confiscated. The other man, aged 31, was convicted of 892 acts of fraud and had €368,300 confiscated.
Members of the same gang have been convicted in the past in Germany, in cities such as Landshut, Düsseldorf and, in August, also in Nuremberg.
The previous suspects were each sentenced to several years in prison.
