Seven individuals arrested in Cyprus for an alleged €700 million international investment fraud have been extradited to Belgium and France after all legal proceedings were completed, authorities announced on Tuesday.

The suspects were arrested in Limassol on October 27, 2025, during a coordinated operation involving authorities in Cyprus, France and Belgium.

The case centres on allegations that the group used online investment scams to defraud internet users.

Investigators claim victims were persuaded to install software that allowed remote access to their computers.

The suspects allegedly created fake investment accounts, showing false profits to encourage further deposits.

Authorities say the funds were transferred to accounts controlled by the group before being laundered through blockchain networks.

During court proceedings, the suspects challenged the European arrest warrants on various legal grounds.

However, the courts dismissed their arguments, allowing for extradition.