Cuban citizen Carlos Batista Valdés, detained in Namibia for his alleged involvement in a wide international scam network involving cryptocurrencies, proclaimed his innocence this Thursday, along with thirteen other defendants, during a hearing held at the court in Windhoek, the capital of that country.
According to a report from the newspaper The Namibian, all those involved denied the 222 charges they face, including one for fraud, one for organized crime (racketeering), 98 for human trafficking, and 98 for the use of services from trafficking victims.
They also face allegations of working in Namibia without permits and remaining in the country after their visas expired.
None of the defendants provided a formal explanation of their statements nor made confessions before Magistrate Monica Andjaba, who decided to postpone the case until July 31, when the Attorney General of Namibia will need to announce how to proceed in the criminal process.
The alleged scam, which came to light in October 2023 with the arrest of 15 individuals, is said to have been carried out through a company registered in Namibia called Raylon Investment, which employed over 150 Namibians in Windhoek, according to Attorney General Martha Imalwa.
The scheme reportedly operated by creating false identities on digital platforms, through which communication was established with victims internationally to gain their trust and persuade them to invest money in supposed cryptocurrency opportunities.
Authorities estimate that the fraud amounted to 465,400 US dollars, equivalent to about 9 million Namibian dollars.
Among the accused are 10 Chinese citizens, one Singaporean, three Namibians, and the Cuban Carlos Batista Valdés. They are all out on bail while the legal proceedings continue.
The Chinese citizen Li Zirian, one of the defendants, did not appear at the hearings on March 31 or last Thursday, prompting the court to issue an arrest warrant, despite having been released on a 70,000 Namibian dollars bail in September 2023.
So far, no specific details have been revealed about the role of the Cuban citizen within the structure of the scheme, nor whether he maintained direct ties to Raylon Investment or its victims, and the case remains under active investigation.
Frequently Asked Questions about the Cryptocurrency Scam Case in Namibia
Who is Carlos Batista Valdés and why has he been arrested in Namibia?
Carlos Batista Valdés is a Cuban citizen detained in Namibia for his alleged participation in an international cryptocurrency scam network. He faces, along with thirteen other defendants, 222 charges, including fraud, organized crime, and human trafficking. The case is currently in judicial proceedings, and it is expected that the Namibian prosecution will announce how to proceed in July.
How did the cryptocurrency scam network operate in Namibia?
The network operated through a registered company in Namibia called Raylon Investment. Fake identities were used on digital platforms to persuade international victims to invest in false opportunities with cryptocurrencies. The fraud amounted to an estimated 465,400 US dollars and employed more than 150 Namibians in the capital. The scheme was uncovered in October 2023 following the arrest of 15 individuals.
What is the connection between the fraud case in Namibia and the use of cryptocurrencies in Cuba?
Although there is no direct evidence of a connection, the case in Namibia highlights the increasing attention to cryptocurrencies in Cuba, where the regime has begun to integrate these assets into its economy. A Lithuanian company, EBIORO UAB, has received authorization to operate cryptocurrencies in Cuba, aiming to modernize the economic system. This occurs in a context where the Cuban regime is seeking alternatives to manage international transfers due to existing restrictions.
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