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Javier Biosca

, investigated for defrauding millions of euros through investments in cryptocurrencies, will continue in prison.

The magistrate of the

Central Court of Instruction 1

of the

National High Court

,

Alejandro Abascal

, has again denied his release with charges despite the fact that the

Prosecutor

's Office has requested Biosca's freedom for the second time on bail of one million euros to understand that there is no longer any legal justification for keeping him in prison.

He bases his report on the most recent jurisprudence of

the Supreme Court

, an issue on which the accused's lawyers, lawyers

Silvia Hevia

and

Francisco Miranda

, from the office, agree.

Vox Legis

.

Biosca is accused of carrying out the largest pyramid scheme in

Spain

with this type of digital assets.

In an order dated this past Monday, March 21, and to which EL MUNDO has had access, Abascal assures that "the defendant's defense contributes nothing new to what was alleged in immediately previous requests and that have motivated the rejection of his release" the February 2 and 10 last.

Both resolutions, continues the magistrate, are pending appeal and it will be necessary to determine "if it is feasible and appropriate" to modify Javier Biosca's personal situation.

"Yes, there are new elements in this last stage of processing the case, such as the receipt of some of the European investigation orders that were in progress," adds Abascal, "whose examination and assessment may confirm or modify the indicative elements regarding the commission of the crime under investigation (...) But at the moment in which we find ourselves, the advisable thing is to maintain the situation of provisional prison".

Javier Biosca Rodríguez remains in prison as investigated for the alleged crimes of continued fraud, misappropriation and falsehood in a public document.

Biosca, who presented himself as a specialist

broker

in the cryptocurrency market, had been missing since the end of 2020. He was arrested in

Malaga

in July 2021. Biosca's wife,

Paloma Gallardo

, and their son,

Sergio Biosca Gallardo

, They are also accused, although they are free with charges.

According to the investigation, Biosca, through the company

Algoritms Group

, claimed to have more than five years of experience as a

broker

.

He explained that his activity was focused on the investment of capital for others to obtain returns through the purchase and sale of cryptocurrencies.

He, his wife and his son claimed to have a sophisticated system of algorithms that allowed thousands of operations per minute to buy and sell different cryptocurrencies (Bitcoin, Bitcoin Gold or Litecoin), which reported extremely high profits.

In this way they managed to attract hundreds of clients, to whom they promised a weekly interest of 10% or 20%.

All the witnesses who have testified so far during the investigation have described themselves as experts and specialists in this type of coin, even offering themselves to the court to carry out expert tests, for which the defense understands that there is no fraud by not realizing the main element of it, the "pretty deception".

In addition, the witnesses would have validated the signed contracts, so, in the defense's opinion, this issue should be resolved in a civil and not a criminal procedure, as is the case.

Javier Biosca, "leader of this organization", once he received the money in his current accounts, instead of paying the contracted interest, he diverted the money to other accounts without the investors receiving the contracted financial interest.

In its petition for the defendant's release with charges, the Prosecutor's Office recalls that if Biosca "wanted to destroy evidence and there was a risk of leaving him free, he could have already done so through his wife and son."

The prosecutor adds that, at the time of his arrest, he had not used false passports while he was being searched for and they did not find plane tickets or boats, nor did they detect any other type of projected trips with the intention of escaping from

Spain

.

The Prosecutor's Office insists that during the investigation Biosca has shown "its willingness to reach an agreement with those swindled for the payment of civil liability."

Argument with which the defendant's defense agrees.

His lawyers add that there is no precedent in the National High Court where he remains in prison for so long due to debts.

However, magistrate Alejandro Abascal has decided that Biosca remain behind bars while the tests are carried out.

The accusation against him and his family is carried out by the lawyer

Emilia Zaballos

on behalf of almost 600 injured parties.

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