Arrested in the United Arab Emirates one of those investigated in the AN for the alleged Kuailian 'crypto-scam'

The judge issued search and arrest warrants against this and another defendant after failing to attend two summonses

MADRID, 4 Ene. (EUROPA PRESS) -

Cristian Albeiro, one of the defendants for the alleged pyramid scam with cryptocurrencies committed through the investment platform Kuailian, which is being investigated by the National Court (AN), has been arrested in the United Arab Emirates (UAE), in compliance with a of the search and capture orders issued by the reinforcement magistrate of the Central Court of Instruction Number 6, Joaquín Gadea.

Albeiro has been detained for extradition purposes, although there is still a second international arrest and surrender warrant pending execution, the one against David Ruiz de León, who still has not been located although investigators believe that he is also in the UAE, according to legal sources consulted by Europa Press.

The investigating judge issued both orders last July after Albeiro and Ruiz de León eluded up to two times – on May 27 and June 23 – their statement as investigated in the National Court. The first time they alleged that they suffered from "anxiety" for which they had been prescribed "rest", so the appearance was postponed. The second time they claimed that they resided outside of Spain, in the UAE.

Albeiro and Ruiz de León, two people in charge of Kuailian, assured through writings from their defense that they had received threats after their names appeared in the press, which caused them a situation of "very severe mental stress", as well as that they could not leave from the UAE because it meant making their company, installed there, inoperative.

After these absences, Gadea determined that, given the seriousness of the possible penalties for the crimes charged, up to 8 years in prison for aggravated fraud, money laundering and criminal organization, it was justified to agree on the precautionary measure of search, detention and imprisonment. .

Specifically, the judge alluded to the risk of flight and to "the will revealed in the procedure" by Ruiz de León and Albeiro "to hinder the judicial action, this being the only measure that appears to be effective to ensure the presence of the person under investigation in the process".

The reinforcing magistrate indicated that the objective is "to be able to take their statement and "purify the criminal responsibilities that may correspond to them for the facts of the present procedure."

The victims of this alleged pyramid scheme, which would have resulted in more than 65,000 affected people in several countries and 500 million euros of economic damage, sued the AN for acts that could constitute crimes of fraud, money laundering, falsehood and against the Public Treasury.

In the April 2021 order that began the judicial investigation, Gadea indicated that the four defendants devised Kuailian, a cryptocurrency investment system based in Estonia but operating from Spain.

They advertised it on social networks offering a product called 'kuais' with a 1,000-day contract. Those interested invested in 'kuais' with the cryptocurrency ethereum, although for this they must previously have a wallet with that type of alternative currency.

Clients could also attract new affiliates by receiving 10% of the investment of the new recruits on a first level. Thus, "an exponential network of massive recruitment has been generated that has led an indeterminate number of people to the platform."

"The attraction of new investors would feed the base of the pyramid, allowing the restitution and payment of benefits to the initial investors, without the operation responding to a real business", indicated the instructor.

The complainants denounced a breach of the agreed conditions and that they were being denied the reimbursement of the agreed yields. "It is reported that they have requested the return of the amount of the invested virtual currency, without a response from those responsible for the company," the order added.