Biosca,when he appeared before the courts in Nerja, after his arrest in 2021. / EUGENIO CABEZAS

Broker investigated for biggest cryptocurrency fraud in Spain is found dead on Costa del Sol

Javier Biosca, arrested in 2021 for an alleged 280 million Bitcoin scam, was staying on a complex in Estepona with his wife and his son, before he plunged to his death from the terrace

JUAN CANO MALAGA.

The broker Javier Biosca, who was being investigated for the biggest cryptocurrency fraud in Spain, was found dead this Tuesday morning, 22 November, in Estepona. Initially, the investigation does not point to the involvement of third parties in his death.

Biosca was staying in a complex of apartments on a golf course in the Costa del Sol town, accompanied by his wife and his son.

Apparently, at around 11.15am, he went out onto the terrace and fell to his death. The National Police are investigating the circumstances.

It was a hotel worker who, upon hearing a thud, discovered Biosca's body in a common area of the complex and raised the alarm.

Sources close to the cryptocurrency fraud case reported that Biosca had been detained by police approximately three weeks ago due to a legal claim. Apparently, he was due to make another visit to the courts that are investigating his case.

Arrested in Axarquía

Biosca was arrested in June 2021 in the Axárquica town of Torrox, during a routine Guardia Civil check. Police officers, when entering his data into the computer, realised that he had an arrest warrant against him as he was being investigated for allegedly having committed a scam with an estimated value in excess of 280 million in bitcoins.

The complaint was filed in the first instance in a Galician court by the lawyer Emilia Zaballos on behalf of the injured parties. In a matter of weeks, the victims multiplied to over 600, with judges, notaries and Treasury inspectors among the scammed investors.

Moved to Marbella

Biosca had presented himself on social media networks as the manager of a company dedicated to online marketing since 2010. Supposedly, it was in 2019 when he began to recruit potential partners to invest in cryptocurrencies, promising to do so, according to the complaint filed against him, profitability of between 20 and 25% weekly. Later, he lowered this guarantee to 10%.

In a short time, he had over 500 investors. He decided to move from Toledo to Marbella with his family in order to increase his network radius and look for clients with a greater purchasing power.

In his mansion he had up to four safes and a panic room installed, in addition to surrounding himself with a security team. Everything indicated that the stockbroker was at the top of his game. He had some investors who put up to 20 million euros in his hands for the acquisition of bitcoins, according to the lawyer Emilia Zaballos, and others who gave him their life savings. But at the end of 2020 Biosca began to fail to deliver on his profitability promises and then his empire began to crumble..