The trial of the "Red Card" case, involving 28 million euros of fraud through fake investments in cryptocurrency and diamonds, has started in Nancy. More than a thousand people, including major football clubs in France, were victimized. The accused, 22 people aged between 28 and 73, opened 199 bank accounts in 19 countries to launder money between 2016 and 2018.
The scammers defrauded the clubs Sochaux, Angers, and Toulouse for 60,000 euros and tried to lure six more clubs, including Marseille and Nantes. Around 30 websites were created, promising guaranteed returns of 6-8% on investments. Authorities were able to seize 2.8 million euros to compensate the victims; six of the accused have admitted guilt, and three remain at large.
