A couple have been arrested after swindling 1.5 million euros in cryptocurrency during the sale of a luxury property in the Gulf of Saint-Tropez, following more than a year of investigation by military police.
The fraud, described by investigators as worthy of a spy film, was uncovered by officers from the Gassin-Saint-Tropez gendarmerie company after a lengthy undercover inquiry. The couple had succeeded in diverting the funds during what appeared to be a legitimate high-end property transaction in one of the most exclusive stretches of coastline in France.
Cryptocurrency fraud has become an increasingly common feature of luxury property transactions on the Côte d'Azur, where large sums regularly change hands and the complexity of digital currency transfers can provide cover for sophisticated financial crime.
The couple were arrested at the end of June. Further details on charges and proceedings are expected in due course.
Source: ICI Provence-Alpes-Côte d'Azur