MLM crypto scammer Nicholas Coppola arrested in Italy
Serial MLM crypto scammer Nicholas Coppola has been arrested in Italy.
Coppola had been hiding out in Dubai…
…but appears to have wanted to spend Christmas and the new year in his native Veneto.
Coppola was arrested by Italian financial police in Veneto on December 28th.
As reported by Corriere del Veneto on December 30th, Coppola’s arrest follows “numerous complaint for fraud” from “dozens of Veronese”.
The investigation was led by the Veronese Public Prosecutor’s Office and Economic and Financial Police Unit.
Coppola (right) is accused of using social media to promote illegal cryptocurrency investment schemes.
BehindMLM came across Coppola as an insider of the collapsed Meta Utopia Ponzi scheme in 2022.
Coppola’s attempts to hide his association with Meta Utopia earned him a spot on BehindMLM’s DMCA Wall of Shame.
Italian Public Prosecutors allege Coppola,
as a speaker, in conferences on the topic of virtual currency, during which he illegally proposed and placed financial investment products and services.
Through his illicit conduct, the ” promoter “, also with the help of other compliant subjects , equally under investigation, misled savers through investment proposals at extremely favorable conditions, promising them a ” safe ” and huge return “.
According to the investigators, however, “the negotiation of the investments actually took place in the absence of the authorizations required by the Consolidated Finance Act”.
How many of Coppola’s accomplices are also under investigation is unclear.
Together however, Coppola and his accomplices are believed to have stolen upwards of €500,000 euros.
Following his arrest, Coppola has been released to home detention. CONSOB, Italy’s top financial regulator, has also seized Coppola’s electronic devices.
Update 18th April 2025 – Brief update on Nicholas Coppola’s case from Corriere del Veneto;
On January 29, the 28-year-old, defended by the lawyer Tommaso Imperadore, appeared before judge Luciano Gorra asking to be tried with the abbreviated procedure, that is, only on the basis of the evidence collected by the public prosecutor Carlo Boranga.
A type of trial that, in the event of a conviction, would allow Coppola to obtain a reduction in his sentence.
The judge accepted his request on Wednesday, as well as the civil action of two investors who had reported the 28-year-old for fraud.
However, it will be necessary to wait until October for the trial to be held and for the judge’s sentence.
If I’m understanding correctly, Coppola opting for an abbreviated trial suggests the case against him is based on strong evidence.
Coppola remains under house arrest pending trial. I’ll check back later in the year for an update on the trial outcome.
Finally a country with the balls to go after con men. Shame it’s not the same in the UK.
Another Scammer locked up because he got cocky and decided to start to travel? This is brilliant!
LOCK THEM ALL UP! Shouldn’t be too difficult – they can’t help themselves! It should NOT be too difficult!
Look at the POS David Rosen -several gifting scams and the crook continues to get away with it. He’s only one example.
They should give him 20 years in prison!! What a douchebag!
Is there an academy for douchebags? They all end up looking the same!
People tend to forget that these “people” can destroy lives. So, I hope he and the rest like him rot in prison.
I don’t know about an academy because these pricks can’t seem to learn.
My theory is that there is a stylist who helps them with that new douche look by getting their sleaze on.
Walk into any hair stylist and ask for a “crypto fuckboi”. Some know it as “insta douche”.
It’s “the Rachel” but for dudes.
Well done Italian police. The only use of UK Police is catching drivers doing over the 30m speed limit by 3 miles!!
Anyone heard of the relatively New one (I believe) called “Barnaje” website barnaje.com a “donating” project. Fantastic if you “name & shame” people can investigate. Apparently owned by Mr. Theobald!
Possibly the first time, as an Italian, that I’m not ashamed reading news regarding a police operation in my country!
Update from Italy with the latest on Nicholas Coppola’s criminal proceedings.
(I also hit publish on a pending Immunotec review draft instead of updating this article, that will be out later today after I’ve finished editing)