Three Dutch nationals sentenced for defrauding Hasselt watch collector with worthless crypto

A criminal organization's plot to defraud a Belgian watch collector using worthless cryptocurrency has led to convictions for three Dutch nationals. The scheme involved selling luxury watches for a promised sum in cryptocurrency, only for the digital currency to be worth a fraction of the agreed-upon price.

The victim, a watch collector from Hasselt, was initially contacted by a man identifying himself as 'Lucas' in April 2024. They agreed on a price of 15,200 euros in cryptocurrency for a luxury watch. Two Dutchmen later traveled to Hasselt to finalize the deal. After setting up a crypto wallet and performing a test transaction, they transferred the cryptocurrency and took possession of the watch.

The collector discovered the next day that the transferred cryptocurrency was only worth 829 euros. He arranged a second sale, this time ensuring his mother filmed the suspects and their vehicle, including the license plate. When one of the Dutchmen arrived, the collector demanded the full payment. The footage provided to the police was shared with their Dutch counterparts, leading to house searches and the arrest of two 20-somethings from Amsterdam and one man from Heerlen.

During the investigation, messages from the Heerlen resident revealed a callous attitude towards his crimes, referring to defrauding people as "work." He was sentenced in absentia to 30 months in prison and a 4,000 euro fine. The two individuals from Amsterdam received 220 and 240-hour work sentences, respectively, also with a 4,000 euro fine. Failure to complete their work sentences would result in 24 and 28 months in prison. The Hasselt collector was awarded damages exceeding 18,000 euros.