The Zurich-based fintech startup Advanon has been hit by CHF 2.4m (US$2.41m) fraud scheme.
In a statement, the startup said that a Swiss commercial electronics company sold on the Advanon trading platform faked accounts receivable worth about CHF 2.4m (US$2.41m). As a result, 78 investors are affected.
"The fraudster acted with a lot of criminal energy and a high level of criminal perfection. The scheme was meticulously planned, including building customer relationships and forging all documents," writes Advanon CEO Phil Lojacono in the announcement." data-share-imageurl="">