Red Flags
17
David Ruiz de Leon
David Ruiz de León’s refusal to testify in person and his relocation to Abu Dhabi raise serious concerns about evading justice
Quick summary on David Ruiz de Leon
Failure to Cooperate with Legal Proceedings: Ruiz de León’s refusal to testify in person is seen as an attempt to obstruct justice. His relocation to Abu Dhabi raises concerns about evading legal responsibilities.
Massive Financial Losses: Over 65,000 investors are believed to have lost approximately €500 million in total. Many investors are still unable to recover their initial investments, leading to widespread frustration.
Pyramid Scheme Allegations: Kualian’s platform was criticized for its pyramid-like structure, which primarily benefited early investors. New investors struggled to receive the promised returns, exacerbating the financial harm.
Challenges of Remote Testimony: The Spanish court rejected Ruiz de León’s remote testimony request, citing concerns over fairness and legitimacy. Remote testimony without formal legal procedures risks compromising the defendant’s rights.
Lack of International Legal Cooperation: The absence of extradition agreements between Spain and the UAE complicates efforts to bring Ruiz de León to trial. Cross-border legal challenges make it difficult to ensure accountability in crypto-related fraud cases.
Intel Reports
by: Daniel Lewis
From Spain to Abu Dhabi running from accountability has never looked so obvious
by: Scarlett Clark
Over 65,000 investors scammed, €500 million vanished, and he still won’t testify in court?
by: Michael Robinson
A masterclass in dodging justice: relocate, refuse to testify, and hide behind legal loopholes.
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