Olympus Prime Masterminds Exposed? €250 Million Investment Fraud Network Steals Money from Thousands

The €250 million Olympus Prime transnational scam saw several call centers dismantled by police in 2023, yet its masterminds remained at large. Recently, two European NGOs, Investigative Europe (IE) and the Balkan Investigative Reporting Network (BIRN), have found that Israeli money launderer Eliran Oved and his wife, Liat Kourtz Oved, may be the masterminds behind the scheme.

In January 2023, Serbian police raided four call centers in Belgrade. According to authorities, these centers resembled ordinary offices, and employees showed no surprise at the police arrival. A staff training video discovered by police revealed the fraudsters had prepared for such situations. A manager in the video instructed employees to claim they were merely providing educational materials.

German police stated that this fraud network targeted over 70,000 people worldwide, profiting about 250 million euros through fake foreign exchange and cryptocurrency investments.

Investigators discovered that compared to the devastated victims, call center staff enjoyed favorable working conditions and wages, treating victims with callous indifference. Internal chats reveal they labelled victims as “idiots.” When someone shows interest in investing 40,000 euros, they respond: “Great, snatch it!”

Although 21 individuals were charged with fraud after the 2023 operation, the mastermind behind the scheme remains at large. Recent investigations by Investigative Europe (IE) and the Balkan Investigative Reporting Network (BIRN) reportedly linked Olympus Prime to Israeli money launderer Eliran Oved and his wife, Liat Kourtz Oved. After examining extensive documents and records, IE and BIRN uncovered connections between the Oveds and these investment scams.

The affluent Oveds frequently share photos of their life on social media, though Eliran Oved previously served a one-year prison sentence for operating an illegal gambling website. The investigation revealed that the owner of Olympus Prime is allegedly a trusted proxy of the Oveds. Multiple scam call centers and brands in Siberia were also linked to the couple, including cryptocurrency and forex trading platforms like FXVC, PrimeOT, Greenfields Capital, Wingroup, and FX Trade Market. Many of these brands have faced regulatory warnings and had their websites shut down.

The IE and Birn investigation revealed that the Oveds' most famous brand, FXVC, operated from Olympus Prime office. After achieving unprecedented exposure in the UK through its partnership with the Premier League, FXVC had its license revoked by the UK Financial Conduct Authority (FCA) in 2021 for “misleading financial promotions.”

IE and Birn also discovered that victims of another fraudulent investment brand, PrimeOT, were instructed to transfer funds to Coinshype, controlled by the Oveds.

Additionally, Vera Nachkova Andonova, a shareholder in the UK and Vanuatu entities behind Greenfields Capital, was a trusted proxy for the Oveds.

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