Crypto Scam in Saint-Tropez: Villa Sale Ends in a Trap Worth Over 1 Million Euros

A real estate sale turned into a trap. Two defendants appeared this Tuesday before the correctional court of Draguignan for organized fraud and lack of justification of resources. They are suspected of having diverted 1.5 million euros in cryptocurrencies from a couple in their sixties who wanted to sell their secondary residence in the Gulf of Saint-Tropez. Arrested on June 25 in a villa in Cavalaire, Var, the woman and her son allegedly presented themselves as a couple. They deny the charges against them. Key points of this article:

• Two defendants have appeared for organized fraud after a rigged real estate sale where 1.5 million euros were diverted in cryptocurrencies.
• The victims, a couple in their sixties, were trapped via a fake sale of their secondary residence in Saint-Tropez, involving intermediaries and meetings in Milan.
  The case begins with the sale of a secondary residence located in the Gulf of Saint-Tropez. The property is offered for around 12 million euros when a man presenting himself as an Italian buyer expresses interest. He even claims to be willing to pay more than the asking price.
  Intermediaries then take charge of the negotiations. To prove their ability to finalize the transaction, the sellers must provision about 1.5 million euros in cryptocurrencies, presented as fees related to the sale, and then demonstrate that they indeed have this amount.
  Two meetings are organized in Milan. During the second, in the lounge of a hotel, the alleged scammers managed to retrieve the necessary information to access the funds. Investigators are considering the use of hidden cameras in glasses to film the account numbers and security keys manipulated by the victims.
  Several transfers are said to have been made during the meeting. According to their lawyer, the sellers then felt unwell and wonder if they could have been drugged. At this stage, this hypothesis reported by the civil parties is not presented as established by the investigation.
  This method corresponds to a scam known as << rip deal >>: a fictitious commercial or real estate operation is used to gain the victim's trust before extracting money or assets from them.
  The couple filed a complaint the day after the meeting, reports France 3. The Gendarmerie of Gassin-Saint-Tropez then investigated for about a year before identifying two suspects, notably thanks to photographs presented to the victims.
  The woman and her son were arrested on June 25 in Cavalaire. Placed under judicial control, they deny the facts. The hearing will need to determine their exact role and establish whether others participated in the operation.
  Three properties belonging to them on the Côte d'Azur have been seized. Their total value would reach around 3 million euros according to the lawyer for the civil parties. In case of conviction, these properties could contribute to compensating the victims, depending on the decisions made by the justice system.
  The trial must also shed light on the possible existence of a network specialized in this type of fake transactions. Behind the spectacular nature of the camera glasses and the payment in cryptocurrencies, the mechanism remains classic: offer an exceptionally advantageous deal, quickly establish trust, and then impose a financial demonstration that gives access to the victim's funds. But this time, it shouldn't end like that.

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