Getting to Know Okdiario Scam and Javier Biosca Behind It

2025-05-10

Javier Biosca, a Spanish businessman, is now jailed and accused of masterminding the largest crypto-related fraud ever investigated in the country. The case has not only shocked thousands of victims but also stirred public interest after being covered by Okdiario, a Spanish digital newspaper.

Through its reports on Okdiario.com, the outlet has helped bring to light the depth and complexity of what is now known as the Okdiario scam.

Who is Javier Biosca?

Javier Biosca began his crypto business in 2019, identifying digital assets as a lucrative opportunity.

According to his own testimony, he had some basic knowledge about cryptocurrency and started accepting investments through a company offering unusually high returns—reportedly around 20 to 25 percent weekly.

These promises quickly attracted a wide network of clients, most of whom were lured in by the hope of quick profits.

However, the business was operating without authorization from Spain’s National Securities Market Commission (CNMV).

This regulatory gap allowed Biosca to bypass critical financial obligations, such as transparency and investor protection, that are mandatory for licensed entities.

What Happened According to Biosca?

During his recent testimony at the National Court, Biosca claimed that he never intended to defraud anyone. He explained that his failure to pay investors was due to banks blocking his attempts to convert large amounts of cryptocurrency into cash.

He further stated that this banking restriction led him to travel to Guinea, where he allegedly tried to purchase a bank to facilitate currency exchanges.

Biosca told Judge José Luis Calama that he is ready to cooperate and insisted that if he were released from prison, he could resolve the issue within "four or five weeks."

In response, the judge demanded access to relevant accounts and email addresses. Biosca responded that he would comply but did not remember the passwords by heart.

What About His Family?

Biosca also emphasized that his wife and son, who are also named in the investigation, had no involvement in the crypto business. He claimed they never attended meetings with clients nor managed any financial aspects.

Despite this, the judge has ordered the arrest of both individuals. While the prosecution requested their imprisonment on the grounds of potential flight risk, the judge ultimately decided only to revoke their passports as a precautionary measure.

Interestingly, Biosca admitted that his son owns a company in the United Kingdom, which shares a corporate secretary with over 200 other firms—many of which are believed to be shell companies connected to Biosca in both Spain and abroad.

The Scale of the Alleged Fraud

The total losses in this case are staggering. Authorities estimate that over €280 million may have been defrauded from investors. These funds were collected under the guise of cryptocurrency investments, with returns promised on a weekly basis.

By early 2020, however, the payouts began to decline, and by October of that year, they had nearly stopped altogether.

This failure to deliver on promised returns has led to a massive lawsuit filed against Biosca, led by victim associations and Zaballos Abogados, a legal firm actively representing those affected.

As the legal process continues, new details continue to emerge, many of which are covered by Okdiario.com, keeping the public informed of the latest developments in the Okdiario scam.

Frequently Asked Questions

What is the Okdiario scam?

The Okdiario scam refers to the alleged cryptocurrency fraud involving Javier Biosca, which was widely reported by the news outlet Okdiario. The case involves the loss of over €280 million.

Who is Javier Biosca?

Javier Biosca is a Spanish businessman currently in prison. He is accused of running an unauthorized crypto investment scheme that promised high returns but failed to deliver them.

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