The city of Nancy in France has opened the trial for the 'Red Card' scam case, in which over a thousand victims, including top football clubs, lost €28 million ($30 million) through fake cryptocurrency and diamond investment schemes. The defendants, aged between 28 and 73, are accused of opening bank accounts across 19 countries to fund fraud schemes between 2016 and 2018. The scam involved creating websites that promised guaranteed returns on investments in diamonds and cryptocurrency. Authorities have seized €2.8 million ($3 million) that could be used to compensate victims. Six defendants have already pleaded guilty and three are still on the run.



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