Co-Founder of Scam Forex Broker OmegaPro Arrested in Turkey

A co-founder of forex scam OmegaPro, Andreas Szakacs (Emre Avcı), was arrested in Istanbul in July this year, Turkish media reported.

Szakacs organized the cryptocurrency and forex scam OmegaPro, which operated fraudulent activities in Dubai, the United Kingdom, Mexico, France and Nigeria, offering investors crypto&forex investment schemes of up to $50,000 while claiming to be able to generate returns of up to 300% in a short period of time by using ‘top-secret’ trading algorithm.

As the scope of the scam continues to grow, OmegaPro attracted the attention of global regulators and was warned several times between 2022 and 2023.

While the scam ceased operations in mid-2023, it had caused approximately $4 billion in losses to investors worldwide. And the executives of OmegaPro have since disappeared.

In March 2023, Juan Carlos Reynoso, who had been in charge of OmegaPro's Latin American operations, was arrested in Mexico. Meanwhile, law enforcement authorities in several jurisdictions around the world are taking legal action against several OmegaPro executives.