Three of the suspects accused of belonging to a criminal organisation that defrauded thousands of people under the guise of cryptocurrency investments, making profits of more than $8 million, have been remanded in custody.

The 17 people arrested began giving their statements in stages to the Katerini investigating magistrate last Friday, and the process proved a marathon, concluding late on Monday evening. Pre-trial detention was ordered for three of the suspects, among them the two military officers who appear to have played a leading role.

The remaining 14 were released under restrictive conditions and with bail.

The prosecutor has brought felony charges against the suspects of criminal organisation, fraud and money laundering (the laundering of dirty money).

According to reports, the alleged ‘ringleaders’ of the group denied the charges against them and claimed, among other things, that they were victims themselves, having also deposited money.

It is worth noting that, since the case was cracked last Thursday, dozens more people have come forward to the authorities, reporting that they were also victims of the criminal organisation and have suffered financial losses after handing over money in the belief that they were investing it.