Magistrate Judge Joaquín Gadea, instructor at the National High Court, has run out of patience. has issued an international search and arrest warrant against the founder of the Kuailian platform, David Ruiz de León. This company supposedly specialized in investing in cryptocurrencies and which it is investigating as the epicenter of an alleged pyramid scam. The magistrate charged the businessman in May and has called him twice to testify, but the suspect has made different and repeated excuses for not attending the appointment.
Ruiz de León has shown “will” to want to “hinder” the investigations of the National High Court, as the judge emphasizes in a resolution dated June 30. After accusing him, Gadea scheduled his interrogation for the first time on May 27. But the businessman’s defense argued that he was “indisposed” and very affected, so he did not attend the appointment, despite the fact that no coroner in the court could verify it. Again, on June 23, the instructor called him to appear in person, but the suspect said he was in Dubai where he claims to reside and asked to testify by videoconference. A request that the magistrate rejected, who then suffered the second sit-in.
The instructor justifies his international search and arrest warrant in the face of such an attitude. According to the judge, who orders his arrest and immediate imprisonment, there is a clear risk of escape. Gadea also details that he faces sentences of “up to eight years in prison” for alleged crimes of aggravated fraud, money laundering and criminal organization. Ruiz de León “is outside the national territory”, he has not “appeared at the judicial summons that has been made to him on two occasions” and there are elements that “incriminate” him.
The judge underlines that those responsible had allegedly launched a pyramid scheme through a mechanism of “mass recruitment” of potential investors. According to the summary of the Kuailian case, this company advertised through its website and social networks an investment system in cryptocurrencies through an entity (Kuailian App) based in Estonia, but operating from Spain. This promised high profits, but there came a time when it began to breach the conditions it had agreed to with its users.
Gadea pointed out that “Clients, according to the agreed conditions, could get more affiliates for the platform through their account, and received 10% of the investment of those captured in their first level, 3% of those in the second level, 2% on the third level and so on up to a total of 20% invested by each one. This generated an exponential network of massive capture […] The capture of new investors would feed the base of the pyramid, allowing the return and payment of profits to the initial investors, without the operation responding to a real business”.
The magistrate has also issued a search and arrest warrant against another person under investigation: Cristian Albeiro Carmona Hernández. As detailed by Kuailian in an April 2021 statement, Carmona is the owner of a company that “offers digital asset exchange services.” This defendant, who also claims to live in Dubai, also avoided attending the judge’s call. Posted by Cryptobtcbrowser, news and information agency.