Two UK men arrested in crypto fraud targeting elderly victim

Two men have been arrested in connection with a cryptocurrency fraud case that led to a 75-year-old Aberdeenshire man losing a six-figure sum.

Police began investigating the case in July 2024. On February 18, 2025, officers from North East Division CID, with assistance from West Midlands and South Yorkshire Police, arrested a 54-year-old man in Coventry and a 36-year-old man in Mexborough. 

Both have been charged with fraud offences, and a report will be submitted to the Procurator Fiscal, according to a press release on the matter. 

Detective Sergeant David Williamson emphasized the importance of protecting the public from financial crime.

“This operation demonstrates our commitment to ensuring people are protected from fraud. We will do everything in our power to bring those responsible to justice,” he said.

Authorities urge the public to remain vigilant and report any suspicious activity to the police.

“I would also encourage members of the public to be mindful of activity which appears fraudulent and to report this to police,” Williamson said. 

Similarly, Norwegian authorities recently indicted four individuals for a large-scale fraud and money laundering scheme that defrauded thousands across multiple countries. Over 900 million kroner flowed through the scheme, with more than 700 million kroner laundered via a Norwegian law firm and sent to Asia. 

Victims were recruited through a multi-level marketing structure and persuaded to buy cryptocurrency and shares with false promises of investment in gas fields, mining, and real estate.