The Rijeka Prosecutor’s Office in Croatia has today brought charges against Luka Burazer, the director of the defunct cryptocurrency trading firm BitLucky, along with two of his associates, for allegedly defrauding 220 investors out of a minimum of 4.6 million euros.

According to the Municipal State Prosecutor’s Office, from March 26, 2018, to May 31, 2023, Burazer and his associates entered into contracts with at least 220 investors, promising to invest their funds in virtual currencies for a duration of one year. They falsely assured these investors that their funds would be returned along with additional earnings upon request, claiming that their investments were secure.

Investors were encouraged to deposit funds in cash, transfer amounts to an account, and send virtual currencies to designated “digital wallets.”

Despite being aware that their company, BitLucky, based in the Rijeka area, would not actually trade the virtual currencies entrusted to them, the defendants utilized these funds for personal purposes.

The prosecution alleges that they unlawfully transferred funds from “digital wallets” to other accounts and converted portions of these funds into fiat currencies, resulting in losses to investors totaling at least 4.6 million euros.

While the prosecution did not disclose specific names, stating only that the individuals involved are Croatian citizens, media sources have identified them as Luka Burazer, Eugen Travalja, and Vedrana Golušin.

The trio was apprehended in late 2023 following suspicions of defrauding hundreds of clients, leading to significant financial losses by misrepresenting facts during cryptocurrency trading.

Reports indicate that the company ceased operations after numerous citizens began filing criminal complaints, as they were unable to retrieve their investments.

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