The Estonian Prosecutor's Office has accused three individuals and twelve businesses of extensive money laundering, directing the case towards court. The funds in question originated from an investment scam that amassed hundreds of millions of euros worldwide, defrauding investors across the globe. The alleged mastermind, a 60-year-old Estonian citizen, is said to have created a network of twelve companies through which he moved nearly 10 million euros in illicitly obtained money under the guise of legitimate transactions.

According to the charges, the Estonian individual was not alone; he engaged his spouse and a Norwegian citizen in the money laundering operation. The scandal revolves around a global investment scheme that promised substantial returns from currency market transactions but instead fueled personal expenditures by individuals linked to the business. The evidence presented reveals that the Hong Kong-registered company solicited funds from investors via online platforms while falsely claiming to trade profitably in currency markets.

The implications of this case are significant, as it sheds light on the broader issues of investment fraud and money laundering in Estonia, potentially implicating a network that stretches beyond national borders. Given the vast sums involved, this case could lead to tighter regulations on investment platforms and increased scrutiny of businesses operating within the financial sector in Estonia and beyond, as authorities aim to protect investors from similar fraudulent schemes.