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Over 100 officers participated in the operation. Authorities seized several high-value vehicles, froze numerous bank accounts and imposed an asset restraint order valued at around €82 million. An arrest warrant was also executed.
Prosecutors allege that five suspects had operated internet-based gambling services without the required German licences from at least July 2021. The volume of bets placed on these platforms reportedly exceeded €5.8 billion between mid-2021 and the end of 2023.
In addition to illegal gambling, investigators suspect extensive tax evasion, with a projected tax shortfall of about €77.6 million for 2024.
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About Beellionaires Dream Drop
Each settlement involved cooperation with Kalshi’s investigation.
What distinguishes Santos’ penalty is the exchange’s allegation that he actively issued false or misleading statements to alter prices and profited materially, violating additional rules such as failure to cooperate and manipulative conduct.
These breaches escalated his sanction to a permanent ban and a significantly larger fine compared to others involved.