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Authorities in Estonia are said to have let Dagcoin scammers Nils Grossberg and Kristijan Ress go.

The two ran the Dagcoin Ponzi scheme out of Estonia. They and two other people were caught last October.

Grossberg and Ress didn’t get bail, so they had to stay in jail for two months.

This order ran out between the middle and end of December, so they were let go.

According to the Dutch newspaper FD (paywall);

The Estonian Public Prosecution Service has confirmed that two of the four suspects were let go in December.

The reason is that there are no longer good reasons to keep them in jail for up to two more months before their trial.

“The fact that they were let go does not clear them of suspicion in any way,” a spokesperson stressed.

The Estonian government says that Dagcoin losses amount to about $8 million. The investigation is still going on, and it is likely that the final amount of losses will be much higher.

Success Factory, a company in the Netherlands run by Igor Alberts, a former OneCoin scammer, sold Dagcoin.

After Dagcoin fell apart at the end of 2021, Alberts began to distance himself from the scam. This was the same scam that Alberts used to get out of OneCoin.

Along with the arrests in Estonia, FIOD raided the offices of Success Factory in the Netherlands. So far, though, no charges have been brought.

FIOD was looking for physical and digital proof of investment fraud during the raid in Amsterdam, the OM in Estonia said.

The spokesman said that he couldn’t say any more about how the Dutch government is involved in the investigation. The Public Prosecutor’s Office does not have anything to say about the situation.

So far, no Dutch people have been named as possible suspects.

“Appropriate action” will be taken, the Estonian government said, “if evidence analysis shows that more people are involved in possible criminal activities.”

Grossberg and Rees are said to have been let go “without restrictions” as long as they “cooperate with police requests.”

This means that Grossberg and Rees can leave Estonia whenever they want.

On February 24, Success Factory is planning a “5th anniversary” party in Dubai.

FD tried to get in touch with Success Factory COO Cornelius Engelhardt, who works in the Netherlands (right).

When the FD did get through to Engelhardt, who was the operational director of Success Factory in Amsterdam, he cut the phone line off quickly.

Engelhardt told the reporter in a very blunt way that he was “not interested” in an interview.

At the time of publication, the Success Factory website gives contact information for a Delaware-based shell company.

Between October and November 2022, more and more people went to the Success Factory website. SimilarWeb found that 49% of the traffic came from Saudi Arabia, while 9% came from Mexico and 6% came from Russia.

Only 3% of traffic came from Estonia, which is a 77% drop from the month before.

Success Factory planned to scam people in the US after a big launch in early 2022. That doesn’t look like it worked out.

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