BOLZANO. There is also a 39-year-old from South Tyrol among the five convicted by the regional court of Klagenfurt, in Austria, in the fraud trial against the EXW company which operated on the cryptocurrency market.
The sentences, announced this morning, October 23, are not final. The two main perpetrators, reports the APA, were sentenced to five years of prison without parole, two others to 30 months partially conditional and one to 18 months conditional. Five other defendants were acquitted, while the case for one was dropped.
He is accused of defrauding 40,000 investors worldwide for at least 20 million euros. Everyone had invested in the EXW company and the supposed revolution in the cryptocurrency market, the EXW token. Clients would be lured with high-sounding declarations or boasting excellent contacts with the “Sultan of Oman” or touting an educational program involving ten Nobel Prize winners and some 6,000 scientific collaborators.
The trial lasted more than a year. Specifically, the defendants, who were found guilty, were convicted of gross or serious commercial fraud and criminal conspiracy.
The main defendant is a twenty-seven year old from Klagenfurt, who is said to be the founder of the company, conceived, according to judge Claudia Bandion-Ortner, from the beginning as a scam. Together with him, a leading role would also have been played by the South Tyrolean, a 39-year-old, and by a man still on the run.