Greece Dismantles Fraud Ring of 43 People

The Patras police unit uncovered an organized group that had been operating since at least early 2020 and used bonus hunting and arbitrage betting schemes through mass registration of fake accounts using third-party data on the websites of licensed online bookmakers, report Protothema.

Online Betting Fraud Uncovered

The criminal group consisted of 43 individuals and carried out fraud against online betting companies. Total illegal profits exceeded €1.5 million, while overall losses to operators amounted to more than €120,000.

Schemes Used and Fake Accounts

According to police, the suspects used bonus abuse and arbitrage betting practices, creating mass account registrations with the personal data of third parties.

They opened accounts on the websites of licensed betting companies, creating the appearance of unique users in order to collect bonuses and secure profits.

Money Laundering and Financial Operations

Illegal proceeds were laundered through transit banking transactions, deals involving real estate and vehicles, as well as through the registration of businesses in the Patras region.

Role of Banks and Telecom Companies

During the investigation, data obtained from banking institutions, mobile network operators, and the gambling regulator were reviewed, making it possible to identify a large number of fake accounts.

Searches and Seized Items

As part of the investigation and by order of the Patras public prosecutor’s office, searches were carried out at the residences of the suspects.

Search Results

Law enforcement officers seized €19.6 thousand in cash, more than 700 handwritten notes containing details of fake accounts, over 500 SIM cards, and more than 200 mobile phones.

They also found five luxury vehicles, weapons, ammunition, and a metal weapon of the shuriken type.

Charges Filed

The suspects face charges of forming a criminal organization, fraud, document forgery, violations of gambling legislation, and money laundering.