Skip to content

Arbistar’s CEO is said to have been arrested by Spanish police

October 22, 2020

Spanish media confirmed on the morning of this Thursday October 22nd that Santi Fuentes, who is currently CEO of Arbistar 2.0, He was arrested by the Spanish National Police in southern Tenerife, Spain.

Various local media also confirm that the police actions against Fuentes are carried out by Allegations against him of fraud, fraud and money laundering for activities related to Arbistar. However, Other local media have tried to confirm this with police sources and have failed to confirm the charges brought against Arbistar’s CEO.

A month with no access to funds

As we reported in Cointelegraph en Español, Santi Fuentes announced to Community Bot customers in mid-September that an alleged error had occurred in the calculation of the profits made by the robot in question generated that all withdrawals and deposits from the accounts that people had on the platform were paralyzed.

Arbistar’s CEO is said to have been arrested by Spanish police
Arbistar’s CEO is said to have been arrested by Spanish police

In an exclusive interview with Cointelegraph Fuentes said they expected to return all customers’ money within 12 months.

However, as confirmed by the local Spanish media, Arbistar customers and users in Spain decided to act lawfully and, along with their legal representative, chose to decline the refund offer made by Fuentes, preferring to keep the options to impose civil and criminal penalties on the company noting that the promise back was “not very believable”.

Likewise, customers and users of the platform internationally They have organized through groups to get a refund for their blocked funds within Arbistar.