The judge agrees to continue investigating the alleged Algorithmics crypto scam after the death of the main defendant

The magistrate will focus on Biosca's widow and son, accused of fraud, misappropriation and forgery

MADRID, 1 Dic. (EUROPA PRESS) -

The judge of the National Court Alejandro Abascal has agreed to continue investigating the wife and son of Javier Biosca, the main defendant for the alleged cryptocurrency scam committed by the Algorithmics business group, for which he has declared the extinction of any criminal liability after his passing.

In an order from this Tuesday, to which Europa Press has had access, the person in charge of the Central Court of Instruction Number 1 declares the criminal responsibility of Biosca extinct. Legal sources explain that, however, the magistrate will continue to investigate Paloma Gallardo and her son, Javier.

The instructor has declared "the free dismissal of the case regarding" Biosca, "subsisting the civil action against his heirs and successors in title, which can only be brought before the jurisdiction and through civil proceedings." This opens the door to accusations so that, despite the death of the broker, they can civilly claim economic interests from their family.

This magistrate's decision comes a week after the death of Biosca, who died last Tuesday after falling from the fifth floor of a building in Estepona. "Article 130.1 of the Penal Code establishes that criminal responsibility is extinguished by the death of the prisoner. Once the death of Mr. Biosca has been documented, through an inscription that confirms the record of the event, it is appropriate to declare his criminal responsibility extinguished, "says the judge.

Until the moment of his death, the broker was accused of continuous fraud, misappropriation and falsification of a public document, crimes that he would have perpetrated through the company Algorithmics Group, attracting private investors since 2019 who wanted to obtain high interest in the market of the cryptocurrencies. The damage would be around 500 million euros and there would be more than 750 injured.

His widow, Paloma Gallardo, and their son, Sergio, are accused of the same crimes. Biosca declared in July 2021 that his intention was not to deceive investors because the business he was proposing was really profitable, already offering to provide the keys to the blocked bank accounts to return the money if they let him out of prison. Gallardo and her son, both free, assured the judge that they did not know what her husband and father did.

According to the testimonies collected by the Association of Affected People, Biosca introduced himself to potential clients saying that "through a worker he had hired from the Inditex Group, he managed to control a mathematical algorithm with which (...) he achieved incredible returns". It guaranteed a weekly profitability of 20 or 25%, at least at the beginning, so the word spread among family and friends of the first clients.

Gallardo would have been in charge of giving an image of full solvency to the clients showing the life of luxury that the family had conquered thanks -supposedly- to that 'bot'. Thus, according to these testimonies, she would meet them at fashionable restaurants and invite them to exclusive parties. Biosca, says a witness, spoke of "buying a bank in Sao Tome and Principe" and Dinamo Bucharest.

With the arrival of the pandemic, Biosca informed its clients that it would stop the 'bot' for a few weeks to reactivate it later. But the arrears and non-payments began to accumulate and the pyramid scheme ended up exploding in October 2020.