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.
"As soon as we realized that something was wrong, we immediately gathered evidence and handed it over to authorities" added the CEO of Advanon.
In addition, the investors concerned and the Swiss financial market authority “FINMA” were promptly informed.
