The Namur Correctional Court on Wednesday sentenced a man to three years in prison, an €8,000 fine and a five-year ban on trading, on charges of swindling and forgery.
A total of €592,000 was also confiscated from the defendant.
His wife, manager of the Quantum Intelligence (QI) company, and the company itself were granted a three-year suspended sentence.
The court upheld the claims of the civil parties.
The defendant, Ghislain E., founded the QI company in October 2017, promising individuals wishing to invest in cryptocurrency returns of between 50% and 80% within six months, without incurring any risk.
The 27 civil parties invested nearly €3,970,000 through 45 contracts. These amounts have not been given back in full nor have returns been paid.
On 1 March, the defendant’s counsel indicated his intention not to attend the hearing, following “divergent and unclear speeches” by his client, who was sentenced in absentia, since he was in Mauritius.
Deputy prosecutor Moreau specified on 1 March: “We had asked the defendant to prove his solvency. Since the last hearing, he has stated that he holds 125,000 bitcoins, or more than €2 billion, spread over nearly 26 portfolios.
“But he has not provided us with any proof that he actual can use them, owns them or has access to them," Mr. Moreau said.
