Suspects charged in French crypto abduction cases

Local France

a day ago

Those charged are part of a group of 25 suspects expected to face investigating judges, with several already placed in pre-trial detention and three under judicial supervision.
Others were still waiting to appear before detention judges late Friday evening, according to an AFP reporter.
The investigation centres on a May 13 kidnapping attempt targeting the daughter and grandson of the chief executive officer of crypto firm Paymium, carried out in broad daylight in Paris' 11th arrondissement.
Prosecutors said the probe also covers "other unsuccessful plans", including an initial failed attempt on the same targets the day before, and a disrupted operation near the western city of Nantes on Monday.
Authorities said this week they had thwarted the Nantes abduction and detained more than 20 suspects in connection with that plot and another targeting crypto boss Pierre Noizat's pregnant daughter and grandson.
Footage of the attempted abduction that went viral on social media showed four masked men attacking Noizat's daughter, her husband and their child in the French capital's hip 11th district in mid-May.
All three suffered light injuries and were taken to hospital.
Noizat later praised his "heroic" son-in-law and a man who used a red fire extinguisher to fend off the attackers.
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According to a source close to the case, it was while investigating the abduction attempt that targeted Noizat's family that the police discovered the new plot near Nantes.
Ambroise Vienet-Legue, who represents a suspect in the Nantes plot, described the accused as "very young profiles", lured by money and swept up in a dynamic beyond their control.
"My client admitted to being a fuse in a criminal machine" and deeply regrets it, he said.
Defence lawyer Sobieslaw Bemmoussat said his client, who had recently turned 18 and was recruited by more experienced actors, now risks detention in a justice system that wants to send a message rather than assessing individual responsibility.
Lawyers for a 23-year-old suspect placed under supervision said judges had taken into account his personal circumstances and his lack of involvement in the case.
Another lawyer welcomed the court's recognition of the defendants' age -- some are as young as 16 -- noting that even in a high-profile case, judges had considered the protections granted to minors.
The two cases also have links to the May 1 abduction of a crypto-millionaire's father, who was later rescued by police, a source close to the investigation said this week.
Among those arrested so far are suspects accused of involvement in carrying out the abductions and more senior figures believed to be involved in logistics, according to sources close to the case.
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Connecting the dots
The kidnappings and abduction attempts have become a major embarrassment for the French government and have sparked concern about the security of wealthy crypto tycoons, who have notched up immense fortunes from the booming business.
One prominent cryptocurrency entrepreneur has urged authorities to "stop the Mexicanisation of France".
The spate of abductions began in January, when kidnappers seized French crypto boss David Balland and his partner. Balland co-founded the crypto firm Ledger, valued at the time at more than $1 billion.
Balland's finger was cut off by his kidnappers, who had demanded a hefty ransom. He was freed the next day, and his girlfriend was found tied up in the boot of a car outside Paris.
In mid-May, Interior Minister Bruno Retailleau held an emergency meeting with cryptocurrency leaders, with the ministry announcing plans to bolster their security.